PointsBet (PBH AU): Betr's Dyslexic Bump. Mixi's Now Holding 42.38%

• Betr Entertainment (BBT AU) has bumped scrip terms to 4.375 betr shares per PointsBet Holdings (PBH AU) share, equivalent to A$1.31/share, based on betr's last traded price.

• True to form with betr, there's a typo in its latest announcement stating a 4.735 ratio. betr just issued a Bidder's Statement with the correct info.

• Apologies: in my last note I mentioned Mixi Inc (2121 JP) had bumped to A$1.30/share. However, that was predicated on Mixi securing 90%, which won't happen if betr doesn't tender.

PointsBet is an illiquid stock. If that's not your bag, look away now.

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MIXI's initial Offer, by way of a Scheme, was on the 26th Feb. betr's approach was rejected.

I've followed with eight subsequent reports as betr attempts to dislodge MIXI.

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What's New?

• betr Entertainment (BBT AU) has increased scrip terms to 4.375 betr shares per PBH share, or A$1.31/share based on betr's last traded share price.

  • betr, which has made a habit of either issuing confusing Offer announcements, or inflated assumptions - or both - mentioned the revised scrip ratio was 4.735; but at least the numbers matched.