The media group Better Collective closed a direct issue of 6.9 million shares worth € 147 million, with each share priced at $ 21. According to the Better Collective board, the price is in line with market conditions and the transaction should contribute to an increase in the liquidity of its shares.
With the issuance, the total number of shares and votes in the deal will increase from 46,984,072 to 53,864,806, while its share capital will also increase from € 469,841 to € 538,648.06.
Investors who choose to join this transaction will receive their shares on May 31st. To assist in this process, J. Søgaard Holding ApS and Chr. Dam Holding ApS supplied Nordea Corporate Finance & ECM with just over three million shares.
“I am pleased to see the high level of support from our company, both from existing and new shareholders,” said Better Collective co-founder and CEO, Jesper Søgaard.
Søgaard added: “We are very excited about the transaction and the market responsiveness with the acquisition of Action Network Inc., which underpins our strategy to capitalize on an unprecedented market opportunity in the United States in sports betting affiliation.”
Better Collective’s CEO concluded: “With the results of this transaction, we maintain a flexible capital structure to be able to act on future strategic opportunities.”
About Better Collective
Better Collective is a leading sports betting media group that develops platforms for the iGaming industry. From its products, the company intends to make betting and games more fun, dynamic and fair for the worldwide network of bettors.
In addition, the organization considers gambling and gaming as a form of entertainment and strives to ensure that players experience iGaming as a fun and responsible pastime. Therefore, all products promote the game responsibly and offer informative content to help prevent problems.