Sportradar dips after $518 million secondary offering priced

Sportradar AG

24/04/2025 12:51

** U.S.-listed shares of sports technology company Sportradar SRAD.O fall 2.1% to $22.64 premarket after secondary stock offering priced

** Selling shareholders parted ways with 23 million SRAD shares at $22.50 apiece for gross proceeds of $517.5 million

      ** Offering priced at a 2.7% discount to stock's last close

** Stock closed down 7.7% at $23.12 on Wednesday after SRAD launched secondary offering late Tuesday

 ** Concurrently, SRAD agreed to purchase 3 million shares from the underwriters

** Goldman Sachs and J.P. Morgan were the lead book-running managers for the offering

** 13 of 15 brokerages rate the stock "buy" or higher and 2 "hold"; median PT $27 - data compiled by LSEG

** As of last close, SRAD stock has jumped 33.3% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))