betr Entertainment Receives Commitments for Institutional Placement, Entitlement Offer, Shares Jump 7%

MT Newswires Live

Apr 30, 2025

betr Entertainment (ASX:BBT) said it received commitments of around AU$53.5 million covering an institutional placement as well as of around AU$76.5 million covering a one-for-2.59 accelerated non-renounceable entitlement offer, according to a Wednesday Australian bourse filing.

Under the equity raising, around 406.3 million new fully-paid ordinary shares are expected to be issued at an offer price of AU$0.32, representing around 66% of betr's shares on issue.

betr appointed Jarden and Ord Minnett as joint financial advisers, while Morgans, Ord Minnett, and Taylor Collison are acting as joint lead managers and underwriters.

The settlement of the new shares issued under the placement and institutional entitlement offer is expected to occur on May 7.

Its shares rose 7% in recent trading on Wednesday.

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