Sportradar’s key shareholders plan to sell a total of 23 million Class A ordinary shares in a secondary public offering. The offering includes shares held by affiliates of the Canada Pension Plan Investment Board, Technology Crossover Ventures, and Sportradar’s CEO Carsten Koerl.
The offering is composed entirely of shares held by existing shareholders. Sportradar will not issue new shares or receive any proceeds from the sale.
The underwriters will have a 30-day option to purchase up to an additional 3.45 million shares from the selling shareholders, potentially increasing the size of the offering.
Goldman Sachs and J.P. Morgan are acting as joint book-running managers for the secondary offering.
