Genius Sports prices $144m share offering and reaffirms 2024 guidance
Genius Sports priced an underwritten offering of 17,647,059 ordinary shares at $8.50 each, targeting approximately $144m in net proceeds. The company said it expects the offering to close after US markets on 16 January and may use the proceeds for general corporate purposes, including possible acquisitions or investments; it said no such agreements are in place. Genius Sports also reaffirmed 2024 revenue guidance of approximately $511m and adjusted EBITDA guidance of around $86m.
The offering could finance Genius Sports’ general corporate needs, while its guidance provides investors with updated financial expectations.