6,000,000 Class A Shares at a price of US$27
per share
Class A Shares to begin trading on the Nasdaq
Global Select Market
Score Media and Gaming Inc. (“theScore” or the
“Company”) (TSX: SCR) today announced the pricing 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. The underwriters have agreed to purchase
6,000,000 Class A Shares from the Company, at a price of US$27 per
share, for aggregate gross proceeds to the Company of
US$162,000,000. The size of the offering has been increased from
the previously announced 5,000,000 Class A Shares.
The Class A Shares are expected to begin trading on the Nasdaq
Global Select Market under the symbol “SCR” on February 25, 2021,
and will continue to trade on the Toronto Stock Exchange under the
symbol “SCR”. The offering is expected to close on March 1, 2021,
subject to customary closing conditions.
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 Scotia Capital Inc. as
co-managers.
The Company has granted the underwriters an over-allotment
option, exercisable for a period of 30 days from the date of the
closing of the offering, to purchase up to an additional 900,000
Class A Shares, representing up to 15% of the total number of Class
A Shares to be sold pursuant to the offering.
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.
In connection with the offering, theScore filed a preliminary
prospectus supplement to its base shelf prospectus with the
securities regulatory authorities in each of the provinces of
Canada, other than Québec. The preliminary prospectus supplement
and a base shelf prospectus have also been filed with the U.S.
Securities and Exchange Commission as part of a registration
statement on Form F-10. The public offering will be made in Canada
only by means of the base shelf prospectus and preliminary
prospectus supplement and in the United States only by means of the
registration statement, including the base shelf prospectus and
preliminary prospectus supplement. Such documents contain important
information about the offering. Copies of the base shelf prospectus
and the preliminary prospectus supplement can be found on SEDAR at
www.sedar.com and a copy of the registration statement, base shelf
prospectus and the preliminary prospectus supplement can be found
on EDGAR at www.sec.gov. Copies of such documents may also be
obtained from any of the following sources: Morgan Stanley, Attn:
Prospectus Department - 180 Varick Street, 2nd Floor - New York, NY
10014; Credit Suisse Securities (USA) LLC, Attention: Prospectus
Department, 6933 Louis Stephens Drive, Morrisville, North Carolina
27560, telephone: 1-800-221-1037 or by email
usa.prospectus@credit-suisse.com; Canaccord Genuity LLC, Attention:
Syndicate Department, 99 High Street, 12th Floor, Boston MA 021990,
by email at prospectus@cgf.com; and Macquarie Capital (USA) Inc.,
Attention: Equity Syndicate Department, 125 West 55th Street, New
York, NY 10019, or by email at
MacquarieEquitySyndicateUSA@macquarie.com.
Prospective investors should read the base shelf prospectus and
the prospectus supplement as well as the registration statement
before making an investment decision.
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
(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 proposed U.S.
initial public offering of the Class A Shares and the listing of
the Class A Shares on the Nasdaq Global Select Market, 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210224006208/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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