TheScore has raised $186 million from its listing that is dual on Nasdaq trade in america.
The sportsbook operator stated the deal had been finished Monday, with 6.9 million shares offered to underwriters. That had been 900,000 more stocks than initially prepared, because the underwriters exercised their over-allotment choice.
The providing had been completed at $27 per share, offering the organization market limit around $1.3 billion.
It indicates theScore is currently twin noted on the Nasdaq plus the Toronto inventory Exchange. The stocks had been up around 6% in Toronto on Monday, continuing a run-up that is massive year.
New digs for $SCR pic.twitter.com/tctDYv3AZm
— John Levy (@scorecommish) March 1, 2021
Who bought shares of theScore stock?
The offering was conducted through a syndicate of underwriters as joint book-running managers:
- Morgan Stanley
- Credit Suisse
- Canaccord Genuity
- Macquarie Capital
Eight Capital, Cormark Securities Inc. and Scotiabank acted as co-managers.
Where will theScore spend the cash?
TheScore said it would use the proceeds to fund capital that is working other basic business purposes. It will purchase the implementation and operations of its sportsbook, including individual purchase and retention.
TheScore formerly stated the listing that is dual also expose it to more investors and liquidity.
“We believe a U.S. listing would benefit our business and shareholders as we seek to further execute on the opportunity that is growing the quickly developing North American activities wagering market,” theScore creator and CEO John Levy stated in a statement. TheScore is uniquely positioned to grow our footprint and capitalize on the expansion of legalized sports betting and iGaming across the U.S. and Canada.”
TheScore“As the only fully integrated mobile sports media and gaming company in North America Bet currently operates a platform that is mobile four states:
It also expects become a leader in Canada activities wagering. Because of this, analysts have actually floated business as an M&A that is attractive target bigger US sports wagering operators. (*)