30th Sep 2021 21:47
B90 Holdings PLC - Isle of Man-based online marketing company - Agrees to acquire the domain, business IP and operations of Norwegian sports-bet affiliate site Oddsen.nu for EUR4.4 million.
The payment will be funded by the issue of 20.0 million shares - worth GBP2.4 million based on B90's closing price on Wednesday - and EUR600,000 in cash.
To fund the acquisition, B90 has raised GBP1.2 million through a subscription of 8.9 million shares at a price of 14 pence each. The subscription will also go towards increasing working capital and operation expansion.
"The acquisition of Oddsen continues the transformation of our business. Coupled with the fundraise,which gives a strong indication of the support that our stakeholders have for our growth strategy, our business now has a real operational and financial platform from which to grow. This transaction adds a valuable new domain to our online real estate; increases our affiliate marketing capability; and takes our operations into Norway, which is an attractive, stable and well-established market for sports betting," says Executive Chair Paul Huffen.
Current stock price: 13.00 pence, up 11% on Thursday
Year-to-date change: up sharply from 4.75p, price shares were suspended at until March 2021 suspension lifting
By Dayo Laniyan; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
B90 Holdings