- PointsBet to issue 38.75m new shares to SIG Sports
- Melbourne-headquartered PointsBet partnered with NBC Sports in 2020 to boost US presence
PointsBet has secured a AUS$94.16 million (US$65.69 million) investment from SIG Sports Investments Corp, a subsidiary of financial giant Susquehanna International Group, making the firm the sportsbook’s largest shareholder with a 12.8 per cent stake.
The deal will see Australia-based PointsBet issue 38.75 million new shares to SIG Sports at AUS$2.43 (US$1.69 ) each, representing a 15 per cent premium compared to the five-day volume weighted average price to 17th June. The new shares are expected to be quoted on or around 23rd June.
PointsBet added that there will be no change to the company’s board as a result of the equity placement.
“After several years of thoroughly evaluating the North American sports betting market for the right partner, SIG Sports is pleased to have made what we consider to be a long-term investment in PointsBet,” said SIG co-founder and managing director Jeff Yass.
“We have been following their journey for some time and have developed a very positive view of the overall business operations and the capability of the PointsBet leadership team. We believe PointsBet has great potential for future growth and success in the North American sports betting market and SIG has both the analytics and capital to help realise…
