Score Media Launch IPO In US

In the United States and Canada, Score Media and Gaming Inc has launched a commercialised public offering of theScore’s Class A Subordinate Voting Shares.

The step represents the initial public offering of the Score in the United States, with the offer’s net proceeds intended to be used to fund working capital and other general corporate purposes.

Score Bet multi-jurisdictional rollout

This will include the continued development and expansion of the Score Bet operations in the US and Canada by encouraging the introduction and operation of the Score Bet multi-jurisdictional rollout and operation and the acquisition and retention of users in jurisdictions where the Score is or will be running.

The company has filed an application to list Class A Shares in the Nasdaq Global Select Market (‘Nasdaq’) under the symbol ‘SCR’ in connection with the initial public offering of Class A Shares in the US.

NASDAQ

It is expected that the trading of Class A shares will begin on the Nasdaq following the offering’s pricing. Class A Shares will continue to trade under the symbol “SCR” on the Toronto Stock Exchange (the “TSX”).

Score Media and Gaming, in a statement, said: “A total of 5,000,000 Class A Shares will be offered for sale by the company in the offering, which will be conducted through a syndicate of underwriters led by Morgan Stanley, Credit Suisse, Canaccord Genuity and Macquarie Capital, as joint book-running managers. 

“The offering will be priced in the context of the market with terms, including price per share, to be determined at the time of entering into an underwriting agreement with the underwriters.”

Over-allotment option

The company added that it would grant the underwriters an over-allotment option to buy up to an additional 15 percent of the total number of Class A Shares to be offered pursuant to the bid, exercisable for a period of 30 days from the date of the closing of the offer.

The offer is subject to the completion of a satisfactory subscription agreement with the underwriters, which will include customary closing conditions, including the listing of Nasdaq and TSX Class A shares.