Sportradar Begins Initial Public Offering (IPO) in the US

Sportradar Begins Initial Public Offering (IPO) in the US

Sportradar announced today that it plans to offer an initial public offering (IPO) of 19 million shares of Class A common stock.

The group applied for listing on the Nasdaq Global Select Markets under the ticker symbol SRAD.

According to Yahoo Finance, the sports betting and sports entertainment product and service provider is aiming to raise up to $532 million, with stock prices ranging from $25 to $28.

The Switzerland-based company has announced that companies affiliated with Eldridge and Radcliff Management LLC and certain other investors have agreed to purchase $159 million of Class A common stock at an IPO price, along with Class A common stock sold in the public offering. .

JP Morgan, Morgan Stanley, Citigroup and UBS Investment Bank act as lead book managers for the proposed offering, while BofA Securities, Deutsche Bank Securities, Jefferies and Canaccord Genuity act as co-book managers.

And Needham & Company, Benchmark Company, Craig-Hallum, Siebert Williams Shank and Telsey Advisory Group will act as co-managers.

Started in 2001, Sportradar is an official partner of the National Hockey League, National Basketball Association and NASCAR. The group serves more than 1,600 customers across 120 countries, including partners like ESPN, DraftKings and Twitter.

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