Sportradar is aiming to raise up to $532 million in an initial public offering.
Press release.- The global provider of sports betting and entertainment products and services Sportradar Group announced that it is planning an initial public offering of 19 million Class A ordinary shares.
The company expects to raise an initial $532 million through floating of the shares at a price of between $25 and $28. In turn, it was indicated that Sportradar requested to list the shares on the Nasdaq Global Select Market under the ticker symbol SRAD.
J.P. Morgan, Morgan Stanley, Citigroup and UBS Investment Bank will act as accounting managers for the proposed offering. They will be accompanied by BofA Securities, Deutsche Bank Securities, Jefferies and Canaccord Genuity.
Meanwhile, Needham & Company, Benchmark Company, Craig-Hallum, Siebert Williams Shank and Telsey Advisory Group will act as co-managers of the offering.
In addition, Sportradar announced that entities affiliated with Eldridge and Radcliff Management LLC, among other investors, agreed to acquire $ 159 million of its Class A common shares at the IPO price. Their sale will not be registered under the Securities Act of 1933.
The proposed offer will be made only through a prospectus. Although a registration statement related to the proposed sale of these securities has been filed with the SEC, it has not yet become effective.