SportsHero Secures Over AU$4 Million Through Institutional Placement

MT Newswires Live

Feb 16

SportsHero (ASX:SHO) secured firm commitments to raise AU$4.3 million by issuing around 57.3 million new ordinary shares at AU$0.075 each, representing a 2.2% premium to the stock's 15-day volume-weighted average price, according to a Monday Australian bourse filing.

Chief Executive Tom Lapping committed AU$300,000 for 4 million shares, which will be issued subject to shareholder approval, per the filing.

The funds will be used to expand gaming partnerships, secure additional telco deals in Southeast Asia, boost direct business-to-consumer marketing, repay existing debt, and support general working capital needs, the filing added.

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