James is part of the CFA Institute’s Chartered Financial Analyst program and hopes it teaches him how to become an astute investor which allows him to help others with their own investing. Outside of reading and researching he spends many a late night watching the English Premier League and Seinfeld reruns.© 2009 - 2020 The Motley Fool Australia Pty Ltd. All rights reserved.ACN: 146 988 052 | Australian Financial Services Licence (AFSL): 400691 For Raising Capital Valerie S. Gaydos President, Capital Growth, Inc. @angelventures. These assets will act as the cornerstone of our marketing strategy,' invariably assisting the company with its scaling efforts over the medium term, PointsBet's Managing Director and CEO, Sam Swanell, said.What do you make these announcements: Are you bullish or bearish on the company’s prospects going forward? The investor response to all this news was a frenzied one – with the stock opening 52% higher – at $11.41 per share. PointsBet, which has licences in New Jersey and Iowa, said there was strong support from new and existing shareholders who raised $60m at $3.60 per share, 12.5% above the entitlement offer price of $3.20. Marketing remains the most significant expense at Pointsbet with the cost reaching $35.4 million … You can view our cookie policy and edit your settings Following a flurry of announcements – including a ‘game changing’ partnership with NBC Sports – we examine what drove the PointsBet share price higher on Friday, 28 August 2020.The investor response to all this news was a frenzied one – with the stock opening 52% higher – at $11.41 per share.
This was the start of a love affair with Australian equities and he hasn’t looked back since. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. For reference, PointsBet closed out Thursday's session at $7.50 per share.It looks to be the partnership with NBC which attracted the most attention – with analysts from Ord Minnett describing it as a game changer.‘Here is a significant opportunity for PointsBet to take a significant leg-up in brand awareness, and ultimately market penetration, assisted by the market leading presence of NBCUniversal,’ the broker said.Ord Minnett is currently reviewing its rating and price target on PBH.First, unpacking PointsBet’s full-year results, on a year over year and statutory basis, the company reported:Second, the sports betting company revealed that it was planning to undertake a $300 million capital raise.The company said it would launch this raise after the market close, on Wednesday, 2 September, with it being specified that the raise 'is likely to be structured as an accelerated renounceable pro rata entitlement offer and a placement.
Also rising 138% was PointsBet’s net win, which came in at $11.8 million.Net cash from operating activities was negative $8.8 million. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. PointsBet has halted trading on the ASX ahead of a major share placement and capital raising program. As well as providing a trading update (more on that later), this afternoon PointsBet announced a major capital raising.According to the release, PointsBet will raise $122.1 million through a fully underwritten capital raising. Consequently any person acting on it does so entirely at their own risk. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our This website is owned and operated by IG Bank S.A. CFDs are leveraged products. Find the investing style that's right for you. This helped take its registered clients to 148,902 during the quarter, up 223% on the prior corresponding period. For a limited time, The Motley Fool Australia is giving away an urgent new investment report outlining our 5 favourite stocks for investors over 50.