Not how I read it. $4.5M goes to purchase of LVDC and repayment of debt. $8.5m is for "Working Capital including content fees for NJ FixedOdds2. " The footnote says "BetMakers will make its annual payment with respect to New Jerrsey Fixed Odds in July 2025 of up to USD $2m." So it's certainly not all "spent".
Worth noting that with up to $30K per shareholder, only ~33 shareholders will get a full $30K if they cap the SPP at $1.0M (although they may in their discretion accept more than $1.0M). I dare say there'll be a lot more than 33 going in for this... Just a risk for those thinking they should sell 300,000 shares at 11c to buy them back at 10c and keep the difference (less brokerage and any CGT). You might not get your full allocation back and by the time this all closes and we know our allocations, it's possible that buying back on market could end up being a lot more expensive (on the back of this just being announced and excluding the 4m share crossing, average price today has been 10.96c on a flat day for the market and a raise just being announced). My understanding is the placement yesterday was well oversubscribed and scaled back so there's plenty of people keen to get onto the register.
BET Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
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