Better Collective boosts M&A funds with share issue
Published 6th December 2019
Shares were priced at SEK78 each, with funds raised set to be subject to certain transaction costs. The issue represents 9% of the total shares and votes in the business.
“I am very pleased to see the broad-based interest from both current and new shareholders wanting to invest in our further growth,” Better Collective chief executive Jesper Søgaard said.
“Better Collective has completed seven acquisitions at a total value of over €125m since the IPO in June 2018.
“The proceeds from the transaction allow us to continue the growth path including M&A, which we believe has contributed significantly in placing Better Collective as the leading company within sports betting affiliation.”
Better Holding 2012 - the joint holding company of Søgaard and chief operating officer Christian Kirk Rasmussen that holds 4,528,786 shares in Better Collective – will distribute its direct shareholding as dividends to its two shareholders.
J. Søgaard Holding and Chr. Dam Holding, the two shareholders in Better Holding 2012, are 100% owned holding companies of Søgaard and Rasmussen, respectively.
The restructuring has not resulted in any changes to the ultimate ownership of Søgaard and Rasmussen, with each set to hold approximately 26.53% after the issue.