Global sports data provider Sportradar has advanced plans for its previously announced initial public offering, detailing an updated proposal with the United States Securities & Exchange Commission for a $611.8m stock issue.
The company said it intends to sell 19 million Class A ordinary shares at a range of $25 to $28 each on the Nasdaq stock market, while one Sportradar’s existing shareholders expects to grant the IPO underwriters a 30-day option to purchase up to 2,850,000 additional Class A ordinary shares at the IPO price, minus underwriting discounts and commissions…
Sportradar is now beginning its roadshow in advance of the planned IPO. The company is pursuing this option after a failed effort to merge with Horizon Acquisition Corp. II, a special purpose acquisition company (SPAC) led by Todd Boehly, part-owner of Major League Baseball’s Los Angeles Dodgers.
