Online betting company Sportradar eyes $500 million in IPO proceeds

Dow Jones2021-09-07

Swiss-based online betting service Sportrader Group AG on Tuesday said it plans to offer 19 million shares at $25 to $28 per share in its upcoming initial public offering under the symbol SRAD on the Nasdaq.

Based on the midpoint of the range, the company will raise about $504 million. With about 1.1 billion Class A and Class B ordinary shares to be outstanding after the IPO, Sportradar will have a market capitalization of about $29 billion based on the midpoint of the IPO price range.

The company generated $26.1 million of net income and revenue of $478 million in 2020.

Sportradar is selling Class A ordinary shares in the IPO.

Following the IPO, founder and CEO Carsten Koerl will be the only holder of Class B shares and will hold about 82% of the voting power.

Entities affiliated with Eldridge and Radcliff Management LLC agreed to buy $159 million of Class A shares at the IPO price, as part of the deal. J.P Morgan, Morgan Stanley, Citigroup and UBS Investment Bank are joint bookrunners on the IPO, with several other banks also underwriting the offering.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Tiffany81
2021-09-07
Tiffany81
Like please
50349358
2021-09-07
50349358
Wow

Leave a comment

2

18

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2165356157?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-09-07 20:56","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2165356157","market":"us","top_or_hot":-1,"title":"Online betting company Sportradar eyes $500 million in IPO proceeds","media":"Dow Jones","content":"<p>Swiss-based online betting service Sportrader Group AG on Tuesday said it plans to offer 19 million shares at $25 to $28 per share in its upcoming initial public offering under the symbol SRAD on the Nasdaq.</p>\n<p>Based on the midpoint of the range, the company will raise about $504 million. With about 1.1 billion Class A and Class B ordinary shares to be outstanding after the IPO, Sportradar will have a market capitalization of about $29 billion based on the midpoint of the IPO price range.</p>\n<p>The company generated $26.1 million of net income and revenue of $478 million in 2020.</p>\n<p>Sportradar is selling Class A ordinary shares in the IPO.</p>\n<p>Following the IPO, founder and CEO Carsten Koerl will be the only holder of Class B shares and will hold about 82% of the voting power.</p>\n<p>Entities affiliated with Eldridge and Radcliff Management LLC agreed to buy $159 million of Class A shares at the IPO price, as part of the deal. J.P Morgan, <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a>, Citigroup and UBS Investment Bank are joint bookrunners on the IPO, with several other banks also underwriting the offering.</p>\n<p></p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Online betting company Sportradar eyes $500 million in IPO proceeds</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOnline betting company Sportradar eyes $500 million in IPO proceeds\n</h2>\n\n<h4 class=\"meta\">\n\n2021-09-07 20:56 北京时间&nbsp;&nbsp;&nbsp;<strong>Dow Jones</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Swiss-based online betting service Sportrader Group AG on Tuesday said it plans to offer 19 million shares at $25 to $28 per share in its upcoming initial public offering under the symbol SRAD on the ...</p>\n\n<a href=\"None\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SRAD","symbol_name":"Sportradar Group AG","start_time":0,"source_url":null,"article_id":"2165356157","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2165356157","pubTimestamp":1631019360,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Swiss-based online betting service Sportrader Group AG on Tuesday said it plans to offer 19 million ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SRAD":"Sportradar Group AG"},"translate_title":"在线博彩公司Sportradar预计将获得5亿美元IPO收益","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SRAD":0.9},"content_text":"Swiss-based online betting service Sportrader Group AG on Tuesday said it plans to offer 19 million shares at $25 to $28 per share in its upcoming initial public offering under the symbol SRAD on the Nasdaq.\nBased on the midpoint of the range, the company will raise about $504 million. With about 1.1 billion Class A and Class B ordinary shares to be outstanding after the IPO, Sportradar will have a market capitalization of about $29 billion based on the midpoint of the IPO price range.\nThe company generated $26.1 million of net income and revenue of $478 million in 2020.\nSportradar is selling Class A ordinary shares in the IPO.\nFollowing the IPO, founder and CEO Carsten Koerl will be the only holder of Class B shares and will hold about 82% of the voting power.\nEntities affiliated with Eldridge and Radcliff Management LLC agreed to buy $159 million of Class A shares at the IPO price, as part of the deal. J.P Morgan, Morgan Stanley, Citigroup and UBS Investment Bank are joint bookrunners on the IPO, with several other banks also underwriting the offering.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":880380448,"gmtCreate":1631020166484,"gmtModify":1676530443857,"author":{"id":"3581569662385705","authorId":"3581569662385705","authorIdStr":"3581569662385705","name":"Tiffany81","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581569662385705"},"htmlText":"Like please","listText":"Like please","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880380448","repostId":2165356157,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":880380620,"gmtCreate":1631020122360,"gmtModify":1676530443857,"author":{"id":"3574328855445498","authorId":"3574328855445498","authorIdStr":"3574328855445498","name":"50349358","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3574328855445498"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880380620","repostId":2165356157,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":18,"commentSize":2,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.3","shortVersion":"4.28.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2165356157"}