• Raised A$11.5 million through placement of 115 million shares
• Funds to be used to repay debt, fund content/access agreements, and potential acquisition
• Additional A$1 million to be raised via share purchase plan

BetMakers Technology Group Ltd (ASX:BET) has announced the completion of a A$11.5 million placement to sophisticated and institutional investors. The company issued 115 million fully paid ordinary shares at A$0.10 per share. Additionally, Tekkorp Holdings LLC, an entity controlled by the company's President Matt Davey, has subscribed for 10 million shares at A$0.10 per share, totaling A$1 million, which remains subject to shareholder approval. Funds received from the placement will be used to repay all outstanding debt, fund content and access agreements including payments related to New Jersey Fixed Odds, fund the potential strategic acquisition of Las Vegas Dissemination Company, and improve financial flexibility and working capital. The company will also be launching a share purchase plan to raise up to a further A$1 million from eligible shareholders. The placement shares were issued without disclosure under the Corporations Act and were issued under the company's placement capacity under ASX Listing Rule 7.1.