• Firm commitments received for A$12.5M institutional placement at A$0.10 per share
• Share Purchase Plan (SPP) offer to raise up to a further A$1.0M
• Proceeds to be used for debt repayment, content/access agreements, and potential strategic acquisition

BetMakers Technology Group Ltd (ASX: BET) has announced that it has received firm commitments from sophisticated and professional investors to raise approximately A$12.5M (before costs) through an institutional placement. The placement will involve the issue of 125 million new fully paid ordinary shares at A$0.10 per share, representing a 4.8% discount to the last traded price and a 9.9% discount to the 10-day VWAP. The company will also conduct a non-underwritten Share Purchase Plan (SPP) to raise up to a further A$1.0M, allowing eligible shareholders to apply for up to A$30,000 worth of new shares at the same price as the placement. The proceeds from the capital raise will be used to repay all outstanding debt, fund content and access agreements (including payments related to New Jersey Fixed Odds), potentially acquire Las Vegas Dissemination Company, and improve financial flexibility and working capital. BetMakers CEO Jake Henson commented that the capital raise ensures the company is well-funded to pursue both organic and inorganic growth opportunities, with a strengthened balance sheet, extinguished debt, and additional working capital.