Better Collective To Sell 4m Shares For Further M&A Operations

The Stockholm-listed Better Collective AS, making a corporate statement, announced its intention to approve a direct issue of 4 million shares (9 percent of corporate equity) to raise funds for further M&A operation.

Better Collective investors approved the planned stock sale at the company’s AGM on April 25, 2019, with the deal made available to private investors.

Sanctioning the deal on 4 December 2019, Better Collective Governance sets a selling price of SEK78 (€ 7.40), per-share to collect cumulative SEK312 million (€ 30 million) in working capital.

Better Collective details on the transaction briefing of the following note: “The Company believes that using the flexibility provided by a directed placing is the most appropriate and optimal transaction structure at this time in order to raise capital for the continued growth strategy through acquisitions in a time and cost-effective manner. Moreover, the Company will further diversify the investor base.”

In May 2019, the Stockholm-listed company made its last corporate transaction, purchasing a 60% majority stake in Rical LLC –the US Sports and DFS regulator RotoGrinders Network operating company for $21 million.

Nordea Bank and Citigroup, in collaboration with Setterwalls Advokatbyrå AB and Bruun & Hjejle, will serve as the lead bookrunners for Better Collective’s deal.