NKF with Sportradar in the launch of its IPO and start of Nasdaq trading
Sportradar Group (Sportradar), a global provider of sports betting and sports entertainment products and services, has successfully commenced trading on the Nasdaq Global Select Market on 14 September 2021 with a total market capitalisation of approximately USD 8 billion.
Sportradar announced the initial public offering of 19,000,000 Class A ordinary shares at a price to the public of $27.00 per share. In addition, Carsten Koerl, Sportradar’s founder and ceo, has granted the underwriters a 30-day option to purchase up to an additional 2,850,000 Class A ordinary shares at the initial public offering price.
The shares are expected to begin trading on the Nasdaq Global Select Market on Tuesday, September 14, 2021 under the ticker symbol “SRAD.” The offering is expected to close on September 16, 2021, subject to the satisfaction of customary closing conditions.
The advisors
Niederer Kraft Frey advised Sportradar as Swiss counsel alongside with Brandl Talos and Latham & Watkins. The NKF team was led by corporate partner Patrik Peyer (pictured), working with senior associate Deirdre Ni Annrachain, associate Katalin Siklosi, junior associate Reto Seiler (all corporate/capital markets) as well as tax partner Markus Kronauer.
J.P. Morgan, Morgan Stanley, Citigroup and UBS Investment Bank are acting as lead book-running managers, with BofA Securities, Deutsche Bank Securities, Jefferies and Canaccord Genuity acting as joint book-running managers. Needham & Company, Benchmark Company, Craig-Hallum, Siebert Williams Shank and Telsey Advisory Group are acting as co-managers.
