PBH +18.6%: global arbitrage, market maker and prop trading powerhouse Susquehanna has become the largest shareholder after taking a placement in PointsBet. The $94m stake was placed at $2.43/share, a 13% premium to Friday’s close, through their subsidiary SIG Sports Investments. The deal will also see SIG affiliate Nelle Analytics provide services to PointsBet Europe to enhance their available data, allowing PointsBet to offer more markets and better odds. Alongside the deal, shareholders will receive a Deferred Bonus Equity Options (DBEO) for every 20.2 shares held that will allow them to purchase $10 worth of PBH shares at a 20% discount to the market price come 8 July 2024 or upon the company’s decision to call them.
MM remains a frustrated bull on PBH
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