Score Media Officially Announces Initial US Public Offering

  • Score Media and Gaming Inc. is now available in the US for stock trading.
  • This is the first time that Score Media has entered the US trading market.
  • A total of 5,000,000 Class A Shares will be offered under the symbol SCR.

TORONTO, Canada – Score Media Inc. has now officially entered the US stock market, announcing theScore’s Class A Subordinate Vote Shares.

The Class A share will be traded on the Nasdaq Global Select Market and will be available under the new SCR symbol.

A total of 5 million shares will be available in Class A and investors can now purchase and trade following the announcement. USA online gambling entities offering public shares is a clear sign of things going well.

theScore Sees Continued Growth

A possible reason for Score Media entering the US as a public offering could be the early success of its theScore Bet sports betting product.

According to the Q1 F2021 reports, theScore saw strong growth as a company in recent months. This is while being available in just four states; Colorado, Iowa, Indiana, and New Jersey.

With the expectation that the company will expand its legal sports betting operations into more states, it is likely that the company is going public with the idea of even more growth incoming.

“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 in the United States and Canada by supporting the multi-jurisdiction deployment and operation of theScore Bet and user acquisition and retention in jurisdictions where theScore is, or will be, operating,” read the official press release.

As stated before, the 5 million Class A shares are being offered for sale. This offering will have a syndicate conducted by underwriters at Canaccord Genuity, Credit Suisse, Macquarie Capital, and Morgan Stanley.

The underwriters will have a 30-day period in which they can exercise an overallotment option, allowing them to purchase up to 15% of the total Class A shares available.

With theScore going public, it can be expected that the online sportsbook operator will be growing its market share in the coming months.