eBet, Octavian deal expected to close in May
A Notice to Shareholders and Information Memorandum will be forwarded after the execution of contracts. An Extraordinary General Meeting will be held before 30 June where the company will seek shareholder approval for the transaction.
Subject to shareholder approval, there are no barriers to swift completion of this transaction. eBet's Chairman, Michael Hale, said: “We consider the acquisition of Octavian International as a company-transforming transaction for eBet that will create a new value proposition for our shareholders.”
“Our expanded global reach, product diversification and ability to offer new technologies will present many new opportunities for our customers and our company,” Hale added.
Fund raising is likely to be in the form of a fully underwritten convertible note issue. The company also said that further announcements will be made in relation to the Octavian acquisition as key milestones are achieved.
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