Sportradar $513 million IPO
Davis Polk advised the underwriters in connection with the initial public offering of 19,000,000 shares of Class A ordinary shares of Sportradar Group AG at $27.00 per share, for total gross proceeds of $513 million. Sportradar’s Class A ordinary shares are listed on the Nasdaq Global Select Market under the symbol “SRAD.”
Sportradar is a leading global provider of sports betting and sports entertainment products and services. Established in 2001, the company is well-positioned at the intersection of the sports, media and betting industries, providing sports federations, news media, consumer platforms and sports betting operators with a range of solutions to help grow their business. Sportradar employs more than 2,300 full time employees across 19 countries around the world. The company is the official partner of the NBA, NHL, MLB, NASCAR and FIFA.
The Davis Polk corporate team included partners Shane Tintle and Michael Kaplan and associates Clare Conroy, Carrie Guo and Xi (Brooke) Zheng. Partner Pritesh P. Shah and associate Chelsea Renter provided intellectual property advice. Associate Eitan Ulmer provided tax advice. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.