Score Media and Gaming files for $183 Million Nasdaq IPO
Score Media and Gaming filed on Monday with the SEC to raise up to $183 million in an initial public offering.
The Toronto, Canada-based company plans to raise $183 million by offering 5 million shares at $36.52, the as-converted last close of its shares on the Toronto Stock Exchange (SCR). At the proposed price, Score Media and Gaming would command a market value of $1.8 billion.
The company provides sports-focused digital media and betting products. Its media app ‘theScore’ provides live scores, news, stats, and betting information on teams, leagues, and players. For the 12 months ended November 2020, theScore app ranked 3rd in North America and 1st in Canada among multi-sport news and data applications. The company’s sports betting app ‘theScore Bet’ is currently available to place wagers in New Jersey, Colorado, Indiana and Iowa. Score Media and Gaming also creates and distributes digital content through its web, social, and esports platforms.
The Toronto, Canada-based company was founded in 2012 and booked $16 million in revenue for the 12 months ended November 30, 2020. It plans to list on the Nasdaq under the symbol SCR. Morgan Stanley, Credit Suisse, Canaccord Genuity and Macquarie Capital are the joint bookrunners on the deal. It is expected to price during the week of February 22, 2021.