Sportradar said it estimates net proceeds from the offering to be about USD623.9 million, assuming an IPO price of USD26.50 per Class A ordinary share, which it could use to drive growth and acquire or invest in companies.
Founded in 2001, Sportradar serves more than 1,600 customers across 120 countries and is an official partner of the National Basketball Association, the National Hockey League and the NASCAR, according to the company’s website.
Sportradar provides software, data and content through subscription and revenue share arrangements to sports leagues, betting operators and media firms. Its customers include DraftKings, Twitter and ESPN.
Sportradar first confirmed its intention to pursue an IPO last month, filing a registration statement on Form F-1 with the Securities and Exchange Commission (SEC) relating to a public trading of its ordinary shares, having abandoned its plans for a SPAC public listing earlier in the year.
The company said it plans to list on the Nasdaq under the ticker symbol “SRAD”, and that J.P. Morgan, Morgan Stanley, Citigroup and UBS Investment Bank will act as lead book-running managers.
Source: GMB / Reuters
