Login/Register
Evolution
Evolution
Soft2Bet
High 5 Games

Genius Sports to raise $418m in oversubscribed share offering

10th June 2021 9:36 am GMT
Playtech

New York-listed sports data and technology provider Genius Sports is seeking to raise $418m through a new public offering of its ordinary shares.

The company’s underwritten public offering of 22,000,000 ordinary shares consists of 13,000,000 shares offered by Genius Sports, and 9,000,000 shares offered by certain shareholders.

In each case, the public offering has been priced at $19.00 per share, for a total offering size of $418m.

The offering was upsized from a previously announced offering size of 20,000,000 shares, with Genius Sports granting the underwriters a 30-day option to purchase up to an additional 3,300,000 shares.

Genius Sports will not receive any proceeds from the sale of shares offered by the selling shareholders, with the offering expected to close on 14 June, subject to customary closing conditions.

The company intends to use the net proceeds it receives from the offering for general corporate purposes.

Shares in Genius Sports Limited (NYQ:GENI) closed up 2.90 per cent at $19.54 per share in New York Wednesday.

Related Videos
NeoGames
Genius Sport
Future Anthem
Greentube
Pragmatic Solutions
Sportradar
digitain
G2E
Fast Track
High 5 Games