Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

HK Type 4 license through Ballingal Investment Advisors Ltd. 

I'm a highly experienced sell-side analyst with in excess of 22 years of covering Asia Pacific equities, the past 19 years immersed in event strategies encompassing M&A risk arbitrage, directional long/short, stub trades and restructuring.  

My background also includes accountancy (liquidation/bankruptcy/receivership) earlier in my career and as a chief financial officer of a global commodity company based in the US and Mexico.

Pan-Asia Catalysts/Events

PointsBet (PBH AU)/Betr (BBT AU): Mutual Due Diligence Proposed

PointsBet (PBH AU): MIXI Bumps To A$1.20. Betr's DD Continues

PointsBet (PBH AU) [Further] Backs MIXI's Offer, Rejects Betr's

PointsBet (PBH AU) Rebuffs BlueBet And Enters Offer With Mixi (2121 JP)

Quiddity Advisors

Event-Driven

<ul>
<li>On the 26th Feb 2025, <a href="https://www.smartkarma.com/entities/pointsbet-holdings-ltd" target="_blank" data-smartkarma-citation="entities:29102:1" rel="noopener">PointsBet (PBH AU)</a>, an Australian/Canadian online wagering platform, entered into a Scheme Implementation Deed with <a href="https://www.smartkarma.com/entities/mixi-inc" target="_blank" data-smartkarma-citation="entities:602:1" rel="noopener">Mixi (2121 JP)</a> at A$1.06/share, a 27.7% premium to undisturbed.</li>
<li>PointsBet rebuffed key (smaller) rival <a href="https://www.smartkarma.com/entities/betr-entertainment-limited" target="_blank" data-smartkarma-citation="entities:41181:1" rel="noopener">Betr Entertainment (BBT AU)</a>'s (previously known as  BlueBet) ostensibly higher non-binding cash/scrip; and <a href="https://announcements.asx.com.au/asxpdf/20250403/pdf/06hb0zmqpcl5gh.pdf" target="_blank" rel="noopener">refuted</a> Betr's claim that it's Offer was fully funded.  </li>
<li>Betr has returned with, what appears to be, an all cash offer of A$1.20/share, fully-funded/underwritten. Betr's Offer still requires confirmatory due diligence. Importantly, Betr has also acquired a 19.9% stake.</li>
</ul>


On the 26th Feb 2025, PointsBet (PBH AU), an Australian/Canadian online wagering platform, entered into a Scheme Implementation Deed with Mixi (2121 JP) at A$1.06/share, a 27.7% premium to undisturbed.
PointsBet rebuffed key (smaller) rival Betr Entertainment (BBT AU)'s (previously known as  BlueBet) ostensibly higher non-binding cash/scrip; and refuted Betr's claim that it's Offer was fully funded.  
Betr has returned with, what appears to be, an all cash offer of A$1.20/share, fully-funded/underwritten. Betr's Offer still requires confirmatory due diligence. Importantly, Betr has also acquired a 19.9% stake.


Betr's "Superior Offer" For PointsBet (PBH AU) Is Questionable

PointsBet Holdings

Betr's "Superior Offer" For PointsBet (PBH AU) Is Questionable