theScore Announces Closing of US$186.3 Million Initial Public Offering in the United States
March 01 2021 - 11:04AM
Business Wire
Includes full exercise of over-allotment
option
Score Media and Gaming Inc. (“theScore” or the “Company”) (TSX:
SCR; NASDAQ: SCR) today announced the closing of its
previously-announced marketed public offering of the Company’s
Class A Subordinate Voting Shares (“Class A Shares”) in the United
States and Canada, representing the Score’s initial public offering
in the United States and listing of the Class A Shares on the
Nasdaq Global Select Market. A total of 6,900,000 Class A Shares
were sold by the Company, including 900,000 Class A Shares
following the exercise in full by the underwriters of their
over-allotment option, at a price of US$27.00 per share, for gross
proceeds to the Company of US$186.3 million.
The offering is being conducted through a syndicate of
underwriters led by Morgan Stanley, Credit Suisse, Canaccord
Genuity and Macquarie Capital, as joint book-running managers, with
Eight Capital, Cormark Securities Inc. and Scotiabank as
co-managers.
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.
No securities regulatory authority has either approved or
disapproved the contents of this press release. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the Class A Shares in
any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction.
About Score Media and Gaming Inc. Score Media and Gaming
Inc. empowers millions of sports fans through its digital media and
sports betting products. Its media app ‘theScore’ is one of the
most popular in North America, delivering fans highly personalized
live scores, news, stats, and betting information from their
favorite teams, leagues, and players. The Company’s sports betting
app ‘theScore Bet’ delivers an immersive and holistic mobile sports
betting experience and is currently available to place wagers in
New Jersey, Colorado, Indiana and Iowa. Publicly traded on the
Toronto Stock Exchange (TSX: SCR) and the Nasdaq Global Select
Market (NASDAQ:SCR), theScore also creates and distributes
innovative digital content through its web, social and esports
platforms.
Forward-Looking Statements Statements made in this news
release that relate to future plans, events or performances are
forward-looking statements. Any statement containing words such as
“may”, “would”, “could”, “will”, “believes”, “plans”,
“anticipates”, “estimates”, “expects” or “intends” and other
similar statements which are not historical facts contained in this
release are forward looking, and these statements involve risks and
uncertainties and are based on current expectations. Such
statements reflect theScore’s current views with respect to future
events and are subject to certain risks, uncertainties and
assumptions. Many factors could cause the Company’s actual results,
performance or achievements to be materially different from any
future results, performance or achievements that may be expressed
or implied by such forward looking statements, including among
other things, the enactment of enabling legislation and regulations
in the jurisdictions in which the Company operates, or intends to
operate, to facilitate online gaming, including (without
limitation) the enactment of federal legislation in Canada to
permit single event sports wagering (including the timing of such
legislation and regulations being passed and proclaimed in force
(if at all) and the terms and conditions imposed in such
legislation and regulations on applicable industry participants),
the Company’s receipt of all relevant licences and approvals under
the applicable legislation and regulations (as applicable) of the
jurisdictions in which the Company operates, or intends to operate,
the rate of adoption of online gaming in Canada and other
jurisdictions, as permitted by applicable legislation and/or
regulations, and those factors which are discussed under the
heading “Risk Factors” in the Company’s current Annual Information
Form, dated October 28, 2020, as filed with applicable Canadian
securities regulatory authorities and available on SEDAR under the
Company’s profile at www.sedar.com and as filed with the U.S.
Securities and Exchange Commission and available on EDGAR under the
Company’s profile at www.sec.com, and elsewhere in documents that
theScore files from time to time with such securities regulatory
authorities, including its relevant Management’s Discussion &
Analysis of the financial condition and results of operations of
the Company. Should one or more of these risks or uncertainties
materialize, or should assumptions underlying the forward-looking
statements prove incorrect, actual results could differ materially
from the expectations expressed in these forward-looking
statements. The Company does not intend, and does not assume any
obligation, to update these forward-looking statements except as
required by applicable law or regulatory requirements.
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version on businesswire.com: https://www.businesswire.com/news/home/20210301005690/en/
Investor Relations: Alvin Lobo Chief Financial Officer Score
Media and Gaming Inc. Tel: 416-479-8812 Email: IR@thescore.com
Richard Land, James Leahy JCIR Tel: 212-835-8500 Email:
scr@jcir.com Media Relations: Dan Sabreen Director, Communications
Score Media and Gaming Inc. Tel: 917-722-3888 ext. 706 Email:
dan.sabreen@thescore.com
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