Better Collective A/S, a global sports betting media group with a leading position in the US in light of the recently announced acquisition of Action Network Inc., has executed a directed share issue of 6.9 million shares at a price of SEK 218 per share.
The transaction will raise proceeds to Better Collective of SEK 1.5 billion before transaction costs. The transaction was oversubscribed due to high demand from international institutional and other professional investors. Better Collective will used the proceeds towards the purchase consideration for acquiring Action Network Inc.
Setterwalls has assisted Better Collective together with the company’s Danish legal counsel, Bruun & Hjejle Advokatpartnerselskab.
Better Collective is headquartered in Copenhagen, Denmark, and listed on Nasdaq Stockholm (BETCO).