Sports betting company Pointsbet is seeking to capitalise on strong investor appetite by raising more than $450 million in new equity.
Stockbrokers Bell Potter and MST launched the deal on Wednesday night.
It included a $303.2 million institutional placement and $153.2 million rights issue, according to terms sent to funds.
Flagstaff was also advising the company, sources said.
Funds raised were pegged for US marketing costs, technology and platform development and US business development, according to terms in front of investors.
The placement and rights issue were to be priced separately. The placement was to be done via a bookbuild.
The rights issue was at $6.50 a share, which was a 52.5 per cent discount to the last close and a 48.9 per cent discount to the theoretical ex-rights price.
Ann: Trading Halt, page-8
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