Sportradar Files for U.S. IPO After SPAC Merger Flops
Wednesday 18 de August 2021 / 11:19
⏱ 2 min read
(Switzerland).- Sportradar Group AG, the sports data provider, has filed for an initial public offering in the U.S. after merger talks with a special purpose acquisition company collapsed.
The company, based in St. Gallen, Switzerland, in its filing Tuesday with the U.S. Securities and Exchange Commission listed the size of offering as $100 million, a placeholder that will likely change. Sportradar had held talks with Horizon Acquisition Corp. II, a blank-check company started by Eldridge Industries co-founder Todd Boehly.
SPAC transactions have become increasingly difficult to complete as investors have grown more selective about the private investments in public equity, or PIPEs, that are typically part of the deals. Lackluster performance by companies that have gone public through SPACs as well as scrutiny from short sellers, activists and regulators also have created hurdles to getting deals done.
Investor fatigue has thrown up challenges to the IPO market as a whole, delaying several listings planned for this month. Big transactions have delivered mixed results with Robinhood Markets Inc. falling below its offer price in its July trading debut. The online trading firm has bounced back since then, closing 23% above its IPO price on Tuesday.
Sportradar led by Chief Executive Officer Carsten Koerl, counts Canada Pension Plan Investment Board and Revolution Growth’s Evan Morgan among its largest investors, Tuesday’s filing shows. Its backers also include retired basketball star Michael Jordan and Dallas Mavericks owner Mark Cuban.
The company has over 150 sports league partners and provides data to more than 900 sports betting operators, including DraftKings Inc., which also went public through a SPAC, and Fanduel.
Sportradar reported revenue of 272 million euros ($318 million) during the first six months of 2021, compared with 192 million euros for the same period last year. Its profit declined to about 18 million euros from 20 million euros during the same period last year, according to the filing
JPMorgan Chase & Co. and Morgan Stanley are leading the offering. Sportradar plans to list on Nasdaq Global Select Market under the symbol SRAD.
Categoría:Sportsbook
Tags: Sin tags
País: Switzerland
Event
PERU GAMING SHOW – PGS 2026
17 de June 2026
LSports at the Peru Gaming Show: Building Presence, Opening Doors
(Lima, SoloAzar Exclusive).- The Peru Gaming Show was never just about the booth. For LSports, it was about showing up in a market where showing up still matters — and leaving with more than a contact list. Federico Brancato, Sales Manager for the LATAM Region, came to Lima with a clear sense of what operators in this part of Latin America need most right now. What he found confirmed it.
Friday 17 Jul 2026 / 12:00
Martin Ivanov: "Latin America remains one of CT Interactive's key strategic regions"
(Lima, SoloAzar Exclusive).- CT Interactive Chief Operating Officer Martin Ivanov reflects on the company's experience at the Peru Gaming Show, highlights the opportunities emerging in the Peruvian market, and outlines the company's strategic priorities for expanding across Latin America.
Thursday 16 Jul 2026 / 12:00
Regulation and the Black Market in Latin America: Challenges and Solutions
(Lima, SoloAzar Exclusive).– As part of the Peru Gaming Show (PGS) 2026 conferences, gaming industry leaders analyzed one of the main challenges currently facing regulated markets in Latin America: the growth of illegal gambling. The panel "Regulation and the Black Market: Challenges and Solutions" brought together Carlos Fonseca, CEO of Gaming Law, as moderator; Neil Montgomery, founding partner of Montgomery & Associados; Tatiana Vásquez, founding partner of Vázquez Asociados; Karen Sierra Hughes, Vice President for Latin America, the Caribbean, and Spain at GLI; and Vanessa Cabrera, Director of the Control and Sanction Directorate of the DGJCMT-MINCETUR, who debated the causes of the black market, the available regulatory tools, and strategies to strengthen channeling toward legal gaming in the region.
Wednesday 15 Jul 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.
