Sportradar, the international sports data intelligence and digital content service provider, has filed a registration statement with the Securities and Exchange Commission (SEC) in the US, a major step towards taking the company public.
The filing is necessary for Sportradar, based in Switzerland, to conduct an IPO in the US.
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The provider has said it plans on listing its current stock on the Nasdaq Global Select Market under the symbol SPAD.
JP Morgan, Morgan Stanley, Citigroup and UBS Investment Bank will act as book-running managers for the IPO, for which details – such as the number of shares to be offered and the pricing of those shares – have not yet been finalised.
Copies of a preliminary prospectus, which constitutes the first form of the IPO, are available from the New York offices of JP Morgan and Morgan Stanley.
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Reports for the last year have suggested that Sportradar has been looking at making the shift to being publicly traded.
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By GlobalDataInitially, the firm was planning on doing so through a special purpose acquisition company (SPAC), but talks with a leading company in that space ended in June and since then Sportradar has been planning a more orthodox move towards an IPO.
It emerged in March that Sportradar had signed a letter of intent with US-based Horizon Acquisition Corp II (a SPAC) for an IPO including other investors that valued the firm at $10 billion.
However, the deal then fell through earlier this summer, with reports it had been impacted by Sportradar losing its betting data rights contract with American football’s NFL.
Across the sports world, Sportradar does still retain deals with the likes of basketball’s NBA, ice hockey’s NHL, baseball’s MLB, Nascar, and soccer governing bodies Fifa and Uefa.
Sportradar has been building up its business in the US in the recently-liberalised betting landscape.
