The IPOX® Watch: Sportradar Group AG (SRAD US)
COMPANY DESCRIPTION
Founded in 2001, Sportradar Group AG a sports data and technology company headquartered in St. Gallen, Switzerland. Sportradar Group provides software, data and statistics, and content via subscription and revenue share arrangements to sports leagues and federations, betting operators and media companies.
BUSINESS MODEL
Sportradar generates revenue primarily via two types of contracts: subscription (Betting Data / Betting Entertainment Tools) and revenue sharing (Managed Trading Services and Virtual Gaming and E-Sports). The company also generates revenue from sale of live streaming solutions, media and advertising services, and integrity services.
IPO HISTORY
On 09/14/2021, Sportradar Group AG began trading on the Nasdaq Global Select led by J.P. Morgan. The sports technology company offered 19 million new shares at $27.00 per share, little above mid-point of its expected price range ($25 to $28). Sportradar was valued at ca. $5.54 billion at offer. The shares opened flat at $27 and closed the first day down at $25.05 (-7.22%).
Entities affiliated with Eldridge, Radcliff Management and certain other investors purchased a combined $164.0 million in concurrent private placements.
Sportradar Group AG was included in the IPOX® 100 Europe Index (ETF: FPXE US, FPXE LN, EFPX IM) on 03/21/2022 and has lost -8.73% since addition to the indexes.
