Signing Day Sports, which operates a recruiting platform for student athletes, filed on Monday with the SEC to raise up to $19 million in an initial public offering.
The Scottsdale, AZ-based company plans to raise $19 million by offering 3.8 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Signing Day Sports would command a fully diluted market value of $69 million.
Signing Day Sports provides a digital platform to help student athletes get discovered and recruited by coaches and recruiters across the country. The platform is currently used by high schools, sports clubs, and aspiring high school athletes, as well as colleges in the NCAA (Division I, II, and III) and the NAIA. The company currently supports football, baseball, and softball, though it plans to expand into additional sports, including men's and women's soccer in or around May 2023. The company is small and has a limited operating history.
Signing Day Sports was founded in 2019 and plans to list on the NYSE American under the symbol SDS. The company filed confidentially on November 8, 2022. Boustead Securities is the sole bookrunner on the deal.
