Sportradar Group AG has publicly filed a registration statement on Form F-1 with the Securities and Exchange Commission (SEC) relating to the proposed initial public offering (IPO) of its ordinary shares.
On completion of the proposed IPO, Sportradar intends to list its common stock on the Nasdaq Global Select Market under the ticker symbol “SRAD”. The number of shares to be offered and the price range for the offering have not yet been determined.
JP Morgan, Morgan Stanley, Citigroup and UBS Investment Bank will act as lead book-running managers for the proposed offering. JP Morgan and Morgan Stanley are the only financial institutions involved in the IPO permitted to distribute copies of a preliminary prospectus, by which the offering will be solely made.
BofA Securities, Deutsche Bank Securities, Jefferies and Canaccord Genuity will act as additional joint book-running managers, while Needham & Company, Benchmark Company, Craig-Hallum, Siebert Williams Shank and Telsey Advisory Group will act as co-managers for the proposed offering.
Sportardar’s securities may not be sold before the time this registration statement becomes effective. It also cannot accept any offers to buy during this timeframe.
Additionally, any sales of securities in a state or jurisdiction in which offers, solicitation or sale would be unlawful before the firm completes its Nasdaq registration or qualification under the securities laws of said jurisdictions is also prohibited.
Sportradar’s IPO declaration builds upon a strong year for the firm, where it has expanded into various markets, including the US. It is currently a partner of the National Basketball Association (NBA), National Hockey League (NHL), Major League Baseball (MLB), NASCAR and the Baltimore Ravens and New York Jets of the National Football League (NFL).
In going public, the firm follows in the wake of some of the industry’s biggest names to turn to the stock market. They include, among others, DraftKings, Rush Street Interactive, Gambling.com, Score Media and Gaming, and Golden Nugget parent company Fertitta Entertainment.
