Sportsradar IPO Could Value Company at up to $8.3B, Double Nearest Competitor

In an amended Form F-1 filing with the Securities and Exchange Commission (SEC), Sportradar updated its initial public offering (IPO) plans. It at present indicates it plans to stir $504 meg past marketing 19 one thousand thousand shares at a set out of $25 to $28, potentially valuing the troupe at upwards to $8.3 billion.

The amount that could be raised and the identification number of shares to live sold could live fluid, because the sports betting data provider is provision to wage increase $159 jillion inwards a private location to some too soon investors, and because underwriters make the option to purchase another 2.85 million shares.

The shares floated inwards the IPO and private placement correspond just 2.3 percent of the canonical shares outstanding. At the midpoint of the proposed range, Sportradar Group would command a market place value of $29.4 billion,” said Renascence Capital, an IPO research firm.

The Switzerland-based companion plans to name on the Nasdaq Global Select Market using the symbolic representation “SRAD.” J.P. Morgan, Sir Henry Morgan Stanley, Citigroup, and UBS Investment Bank are playing as lead book-running managers for the offering, patch BofA Securities, Deutsche Bank Securities, Jefferies, and Canaccord Genuity will help as additional spliff book-running managers. The offering is slated to terms next week.

Stunning Market Cap Forecast for Sportradar

The potential Sportradar securities industry capitalisation mentioned by Renaissance Washington is good higher up prior estimates.

Rumors regarding a Sportradar IPO surfaced o'er a twelvemonth ago, with conjecture swirling that the fellowship could seek a valuation of $10 one million million to $12 billion. In fact, some securities industry observers trust it was those numbers that led the betting information provider and special resolve acquisition keep company (SPAC) Horizon Acquisition Corp. II (NYSE: HZON) to oddment talks for a transaction that would get paved the way for Sportradar to turn public.

Assuming the figures floated by Renascence are anywhere close-fitting to being accurate, Sportradar’s market note value could live more than vii times inward excessiveness of that of Genius Sports (NYSE:GENI) — the Swiss people company’s nighest rival. London-based Genius currently sports a market place pileus of $4.04 billion. Still, the $8.3 one thousand million is more than three-fold Genius’s securities industry value.

Given various add up addressable market (TAM) and combine yearly growth rate (CAGR) forecasts, the Sportradar valuation mentioned by Renascence may not be too far-fetched.

“We are well-positioned at the crossroad of the world-wide sports betting and gaming manufacture and the global sports market. Global gaming represents a TAM opportunity of roughly $209 one million million inwards 2021, growing to $272 1000000000 inward 2025 at a VII percent CAGR, according to the H2 report,” said Sportradar inwards the F-1 filing. “The world-wide sports marketplace is estimated at $172 one million million inward 2021 and growing at IV percent CAGR through and through 2025 to $203 billion, according to the BCG Reports. Within this market, media rights and logic gate revenues represent $102 billion inward 2021 growing to $121 billion in 2025 at a 4 percent CAGR.”

Sportradar IPO Enthusiasm Could Be Strong

Founded inwards 2001, Sportradar notched revenue of $576 million for the 12 months ending June 30, 2021.

The IPO could be well-timed, because football game flavour is here, and leagues are seeing value inward information partnerships and investors are reviving their kinship for sports wagering equities.

“In the US market, the companionship is the #1 provider of information to bookmakers, supplying sports information to over 85 percent of all bookmakers inwards the US,” adds Renaissance. “For its 150+ sports conference partners, Sportradar provides access to o'er 900 sports betting operators and o'er 350 media companies to allot their information and content globally.”