The financial operator plans to sell 5 million Class A Subordinate Voting Shares through the offering.
The finance offering will be conducted through a syndicate of underwriters, including Morgan Stanley, Credit Suisse, Canaccord Genuity, and Macquarie Capital, who will serve as joint book-running managers.
This financial offering is contingent upon theScore reaching a mutually acceptable underwriting agreement with the syndicate, incorporating the customary closing conditions.
Once the underwriting agreement is reached, the details of the pricing of the offering and the expected proceeds will be announced. This information is crucial in assessing the financial implications of the offering and its potential impact on the company’s profitability and investment opportunities.
As part of the finance offering, theScore will grant the underwriters an over-allotment option of up to 15% of the Class A shares sold.
The funds raised from the offering will be used for enhancing working capital and addressing general corporate needs.
This includes financing the growth and expansion of theScore Bet, the operator’s sportsbook offering that is currently live in four states.
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