Sportradar Group AG announced the pricing of a secondary public offering of 23,000,000 Class A ordinary shares by certain selling shareholders at a price of $22.50 per share. The selling shareholders include an affiliate of Canada Pension Plan Investment Board, an affiliate of TCV, and CEO Carsten Koerl.
The company itself is not selling any shares in this offering and will not receive any proceeds from it. However, Sportradar has authorized a concurrent purchase of 3,000,000 Class A ordinary shares from the underwriters at the same price.
This share repurchase is part of Sportradar's existing $200 million share repurchase program and will be funded with cash on hand. The transaction is expected to close on April 25, 2025, demonstrating the company's commitment to its capital allocation strategy.
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