Includes full exercise of over-allotment option

theScore announces closing of US$186.3 million initial public offering in the United States

The Canada-based betting operator and media business sold all 6m shares allocated for the IPO, plus all 900,000 shares in its over-allotment option, at $27.00 each.
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TheScore has raised $186.3m through its IPO on Nasdaq after pricing its shares at $27 each. The company had expected to raise $162m through the sale of six million shares, but it sold an additional 900,000 during the offering.

Score Media and Gaming Inc. this week announced the closing of its previously-announced marketed public offering of the Company’s Class A Subordinate Voting Shares (“Class A Shares”) in the United States and Canada, representing the Score’s initial public offering in the United States and listing of the Class A Shares on the Nasdaq Global Select Market.

A total of 6,900,000 Class A Shares were sold by the Company, including 900,000 Class A Shares following the exercise in full by the underwriters of their over-allotment option, at a price of US$27.00 per share, for gross proceeds to the Company of US$186.3 million.

The offering is being conducted through a syndicate of underwriters led by Morgan Stanley, Credit Suisse, Canaccord Genuity and Macquarie Capital, as joint book-running managers, with Eight Capital, Cormark Securities Inc. and Scotiabank as co-managers.

The Company currently expects that the net proceeds of the offering will be used to fund working capital and other general corporate purposes, including the continued growth and expansion of theScore Bet’s operations in the United States and Canada by supporting the multi-jurisdiction deployment and operation of theScore Bet and user acquisition and retention in jurisdictions where theScore is, or will be, operating.

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