- Sportradar Group AG (SRAD, Financial) announces a secondary public offering of 23,000,000 Class A ordinary shares.
- The company plans a concurrent share repurchase of up to 3,000,000 shares, valued at $75 million.
- Goldman Sachs & Co. and J.P. Morgan are managing the offering.
Sportradar Group AG (NASDAQ: SRAD) has unveiled a major secondary public offering involving 23,000,000 of its Class A ordinary shares. The shares will be offered by major shareholders including the Canada Pension Plan Investment Board, Technology Crossover Ventures, and CEO Carsten Koerl. Underwriters have a 30-day option to purchase an additional 3,450,000 shares.
In parallel with this offering, Sportradar has authorized a share repurchase of up to 3,000,000 Class A ordinary shares from the underwriters, with a maximum expenditure of $75 million. This repurchase is part of the company's existing $200 million share buyback program and will be financed through cash on hand.
Goldman Sachs & Co. and J.P. Morgan have been designated as the joint book-running managers for this offering. It's important to note that Sportradar itself will not sell any shares nor receive any proceeds from this secondary offering.
The shelf registration statement for this offering became effective on April 22, 2025, and financial stakeholders and investors should consult the accompanying prospectus for detailed information about the offering.
