Sportradar plans to invest in an initial public offering (IPO) of 19 million shares of its Largest Class, the company announced today.
The company applied to review the shares of Nasdaq in the Global Selected Forum under the SRAD symbol.
The provider of sports betting and sports entertainment products and services aims to raise as much as $532m, with shares priced between $25 and $28 each, according to Yahoo Finance.
As well as the sale of Class Common Shares in a public offering, the Switzerland-based company said it has agreed to a bond with Eldridge and Radcliff Management LLC, and some other hostages, to buy its Class A common shares for $159m at the IPO price.
The Needham & Group, Benchmark Group, Craig-Hallum, Siebert Williams Shank and Telsey Group will act as advisors.
Launched in 2001, Sportradar is an official member of the National Hockey League, the National Basketball Association, and NASCAR. The company serves over 1,600 clients across 120 countries, with its partners like ESPN, DraftKings and Twitter.