Sports recruiting platform Signing Day files for $19M IPO
ismagilov
Sports recruiting platform Signing Day has filed to raise around $19M through an initial public offering.
Signing Day said in an SEC filing that it is looking to offer 3.75M shares priced between $4 and $6, which would raise roughly $19M if priced at the midpoint.
The company hopes to list its shares on NYSE American under the symbol SDS. Boustead Securities is serving as lead bookrunner, according to the filing.
Based in Arizona, Signing Day's platform helps athletes get spotted and recruited by coaches and recruiters. The company is currently focused on baseball and football but plans to expand into other sports.
Signing Day has been operating at a loss. For 2022, Signing Day reported a net loss of $6.7M on revenue of $780K. It added that its auditors have expressed doubts about its ability to continue as a going concern.
Signing Day is the latest sports-focused company to file for an IPO. In January, Irish soccer club owner Brera (BREA) raised nearly $8M through a US IPO.