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Sportradar Announces Pricing of Public Offering of Class A Ordinary Shares by Selling Shareholders and Concurrent Share Repurchase
SRADSportradar AG(SRAD) GlobeNewswire·2025-04-24 04:03

Core Viewpoint - Sportradar Group AG announced a secondary public offering of 23,000,000 Class A ordinary shares at a price of 22.50pershare,withnoproceedsgoingtothecompany[1][2]Group1:SecondaryOfferingDetails−ThesecondaryofferingisbeingconductedbysellingshareholdersincludingCanadaPensionPlanInvestmentBoard,TCV,andtheCEOCarstenKoerl[1]−Underwritershavea30−dayoptiontopurchaseanadditional3,450,000ClassAordinaryshares[1]−TheofferingisexpectedtocloseonApril25,2025[2]Group2:ShareRepurchase−Concurrently,Sportradarwillrepurchase3,000,000ClassAordinarysharesatthesamepriceasthesecondaryoffering,fundedbycashonhand[2]−Thisrepurchaseispartofanexisting22.50 per share, with no proceeds going to the company [1][2] Group 1: Secondary Offering Details - The secondary offering is being conducted by selling shareholders including Canada Pension Plan Investment Board, TCV, and the CEO Carsten Koerl [1] - Underwriters have a 30-day option to purchase an additional 3,450,000 Class A ordinary shares [1] - The offering is expected to close on April 25, 2025 [2] Group 2: Share Repurchase - Concurrently, Sportradar will repurchase 3,000,000 Class A ordinary shares at the same price as the secondary offering, funded by cash on hand [2] - This repurchase is part of an existing 200 million share repurchase program [2] Group 3: Underwriters - Goldman Sachs & Co. LLC and J.P. Morgan are the lead book-running managers for the secondary offering [3] - Other joint book-running managers include Citigroup, Morgan Stanley, UBS Investment Bank, Jefferies, and Deutsche Bank Securities [3] Group 4: Regulatory Filings - Sportradar has filed a shelf registration statement with the SEC for the secondary offering, which became effective upon filing on April 22, 2025 [4] - A preliminary prospectus supplement has been filed, with additional documents to be made available [4] Group 5: Company Overview - Sportradar, founded in 2001, is a leading global sports technology company that provides solutions for sports federations, media, and betting operators [9] - The company covers nearly a million events annually across major sports and partners with organizations like the ATP, NBA, and FIFA [9]