On Monday, Score Media and Gaming Inc., commonly known under “theScore” brand, announced that it has filed for its first public offering in America.
The Canada-based company announced in a statement that “5,000,000 Class A Shares” would be available for sale if everything gets approved.
“In connection with the initial public offering of the Class A Shares in the United States, theScore has filed an application to list the Class A Shares on the Nasdaq Global Select Market (the “Nasdaq”),” theScore’s statement read. “Trading of the Class A Shares is expected to commence on the Nasdaq following pricing of the offering.”
TheScore will be listed under “SCR” on the Nasdaq. It is already listed under that name on the Toronto Stock Exchange. It will continue to do so after it starts getting traded in the United States.
The price per share will be decided upon on a later date.
However, to get a good idea of what the price might be is to look at how SCR has been performing in Canada. On Monday, SCR shares in Canada closed at $38.58 CAD ($30.59 USD).
What is theScore?
TheScore is known for a lot of things throughout the sporting world. They offer theScore App. It lets sports fans keep track of scores, player stats and general sporting news. They also offer a sportsbook that’s become popular as sports betting expands across the United States.
Currently, theScore Bet, the name of the sportsbook, is available in four states:
The selection could expand as more states begin to legalize online sports betting. In theScore’s statement on Monday, they stated that the funding of this venture could be used to expand the company’s horizons.
“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,” the statement said.
However, it’s not just limited to America. TheScore CEO John Levy has stated that he is excited to expand theScore’s horizons as Canada inches closer to legalizing sports betting as well.
“We believe a U.S. listing would benefit our business and shareholders as we seek to further execute on the growing opportunity in the rapidly developing North American sports betting market,” Levy said in a news release earlier in February. “As the only fully integrated mobile sports media and gaming company in North America, theScore is uniquely positioned to grow our footprint and capitalize on the expansion of legalized sports betting and iGaming across the U.S. and Canada.”