Sportradar Group AG, the sports data provider, has filed for an initial public offering in the U.S. after merger talks with a special purpose acquisition company collapsed.
The company, based in St. Gallen, Switzerland, in its filing Tuesday with the U.S. Securities and Exchange Commission listed the size of offering as $100 million, a placeholder that will likely change. Sportradar had held talks with Horizon Acquisition Corp. II, a blank-check company started by Eldridge Industries co-founder Todd Boehly.
SPAC transactions have become increasingly difficult to complete as investors have grown more selective about the private investments in public equity, or PIPEs, that are typically part of the deals.
