ok I find that hard to understand given the ASX announcement was...

ok I find that hard to understand given the ASX announcement was $215m at $10 per share settled.

Perhaps you are referring to the entitlement issue to existing institutional shareholders at $8. The entitlements not taken up by institutions were cleared at $10 per share. Which is a obviously a great outcome. This after the institutional raise was well supported at $10.

"Online wagering platform PointsBet has completed its institutional entitlement offer, raising $81 million at $8.00 per share. The deal was supported by sophisticated and institutional investors. The offer closed on 2 Aug 2021 with 78 per cent of eligible entitlements taken up by existing shareholders. The final clearing price under the shortfall bookbuild was $10.00 per share, which represents a premium of 25 per cent to the offer price of $8.00.Approximately 10 million new shares will be issued under the offer, expected to occur on 11 Aug 2021."

This is just from my readings/research. DYOR.