Sportradar Group AG, a leading global provider of sports betting and sports entertainment products and services, and the number one provider of business-to-business solutions to the global sports betting industry based on revenue, has announced the pricing of its initial public offering of 19,000,000 Class A ordinary shares at a price to the public of US$27 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.
Latham & Watkins LLP represents Sportradar in the offering with a corporate deal team led by Washington, D.C. partners Rachel Sheridan and Paul Sheridan, New York/Houston associate John Slater, and New York partner Marc Jaffe, with Washington, D.C. associate Eric Dolenti, and New York associates Paul Rafla and Robyn Sablove, along with Chicago partner Daniel Breslin, with Washington, D.C. associates Ryan Zumwalt and Monica Hernandez. Advice was also provided on benefits & compensation matters by Washington, D.C. partner Adam Kestenbaum, with Chicago associate Dan Gocek; on tax matters by New York partner Lisa Watts, with New York associate Eric Kamerman; on antitrust matters by Washington, D.C. partner Mandy Reeves and Washington, D.C. counsel Patrick English, with Washington, D.C. associate Matthew Piehl; on anti-corruption matters by Washington, D.C. partner Joseph Bargnesi, with Washington, D.C. associate Faiza Hasan; on data privacy & security matters by Washington, D.C. partner Jennifer Archie, with Washington, D.C. associate Jimmy Smith and Frankfurt associate Wolf-Tassilo Böhm; on export controls & sanctions matters by Washington, D.C. partner Les Carnegie, with Washington, D.C. associates Andrew Galdes, Elizabeth Annis, and Julie Choi Shin; on IP matters by New York partner Jeffrey Tochner, with New York associate Max Miroff; and on public company representation matters by New York counsel Irina Yevmenenko, with London/Boston associate Nicole McNeil and New York associate Lydia Franzek.