Sportradar reveals further details on IPO
Data giant notes 19 million shares will initially go live for potential investors as it eyes public floatation
Sportradar has provided further updates to its planned initial public offering (IPO).
The data giant confirmed 19 million of its Class A ordinary shares would become available as part of the IPO, but did not disclose the price each share would trade at.
Sportradar also confirmed one of its existing shareholders expects to grant the underwriters a 30-day option to purchase up to an additional 2.85 million Class A ordinary shares at IPO prices.
Sportradar noted that investors, including those affiliated with Eldridge and Radcliff Management LLC, had already agreed to purchase an aggregate $159m of Class A ordinary shares in line with the IPO price.
JP Morgan, Morgan Stanley, Citigroup and UBS Investment Bank will act as lead book-running managers for the proposed offering while BofA Securities, Deutsche Bank Securities, Jefferies and Canaccord Genuity will serve as joint book-running managers.
Additionally, Needham & Company, Benchmark Company, Craig-Hallum, Siebert Williams Shank and Telsey Advisory Group will act as co-managers for the IPO.
The firm confirmed it plans to trade under the SRAD designation on the Nasdaq Global Select Market.
In August, Sportradar CEO Carsten Koerl said there were “numerous opportunities” for growing the business following the confirmation of the group’s intention to go public.