Score Media and Gaming, a Canadian provider of sports-focused digital media and betting products, raised $162 million by offering 6 million shares at $27, below the $30.24 as-converted last close of its shares on the Toronto Stock Exchange (SCR). The company offered 1 million more shares than anticipated.
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.
Score Media and Gaming plans to list on the Nasdaq under the symbol SCR. Morgan Stanley, Credit Suisse, Canaccord Genuity, and Macquarie Capital acted as lead managers on the deal.
