Affiliate advertising and marketing enterprise Gambling.com Group has introduced its preliminary public providing (IPO) 5,250,000 odd shares will likely be priced at $8.00 (£5.83/€6.79) per odd share.
This determine was down from the $11.00 to $13.00 vary the enterprise mentioned it anticipated when it utilized for the IPO final month.
Underwriters of the providing may also have a 30-day choice to buy as much as a further 787,500 odd shares on the IPO value, much less underwriting reductions and commissions.
Gambling.com mentioned it expects the shares to start buying and selling on the Nasdaq Global Market from as we speak (23 July) below the ticker image ‘GAMB’. Subject to customary closing circumstances, the provide is about to shut on 27 July.
Jefferies LLC is performing as lead book-running supervisor and consultant of the underwriters for the providing, whereas Stifel, Nicolaus & Company, Incorporated and Truist Securities, Inc. may also function book-running managers.
The group introduced final month that it had utilized to checklist its shares on the Nasdaq Stock Market below the ticker image.
Last week, Gambling.com set out additional particulars of the itemizing, although each the variety of shares and the confirmed IPO value are lower than initially said.
Gambling.com mentioned the group and some promoting shareholders would provide 7,500,000 odd shares, with the underwriters of the providing having a 30-day choice to buy as much as a further 1,125,000 odd shares.
The IPO value was estimated to be between $11.00 and $13.00 per odd share, a way in need of the confirmed $8.00. Based on the midpoint of $12.00 between to the 2 estimated costs, Gambling.com mentioned on the time it might increase $90m from 7.5m shares.
Gambling.com beforehand said it intends to make use of web proceeds from the provide for basic company functions, together with working capital, working bills and capital expenditures, in addition to potential strategic investments and acquisitions.