SCHEDULE: Sportradar Founder Carsten Koerl Amends Stake Following Secondary Offering

Sportradar Group AG's founder, Carsten Koerl, updated his beneficial ownership to 27.1% of Class A Ordinary Shares following a secondary public offering where he sold over 10 million shares.

Summary

• Carsten Koerl, founder of Sportradar Group AG, reported beneficial ownership of 80,207,953 Class A Ordinary Shares as of June 30, 2025.
• This ownership represents 27.1% of the total Class A Ordinary Shares outstanding.
• The reported shares include 1,840,883 Class A shares held directly and 78,367,070 Class A shares underlying Class B ordinary shares.
• This filing is an Amendment No. 1 to Schedule 13G, reflecting changes in beneficial ownership due to a secondary public offering.
• The underwritten secondary public offering closed on April 25, 2025, involving the sale of an aggregate of 23,000,000 Class A Ordinary Shares at a price of $22.50 per share.
• In connection with the secondary offering, Carsten Koerl converted 120,000,000 Class B Ordinary Shares into 12,000,000 Class A Ordinary Shares.
• He subsequently sold 10,190,316 Class A Ordinary Shares to the underwriters in the offering.
• As of July 17, 2025, there were 221,390,294 Class A Ordinary Shares outstanding, excluding treasury shares.

Sentiment

Score: 5

Explanation: Neutral. The document is a factual disclosure of a change in beneficial ownership due to a secondary offering. While a founder selling shares can sometimes be viewed with caution, the filing itself is purely informational and does not inherently convey positive or negative sentiment about the company's performance.

Positives

• The secondary offering provided liquidity for certain selling shareholders, including the founder, Carsten Koerl.
• The offering price of $22.50 per share indicates a market valuation for the Class A Ordinary Shares at the time of the offering.

Negatives

• The founder, Carsten Koerl, significantly reduced his direct Class A shareholding by selling 10,190,316 shares in the secondary offering.

Risks

• The sale of a substantial number of shares by a founder, such as Carsten Koerl's sale of over 10 million Class A shares, could be interpreted by the market as a reduction in insider confidence or a move towards diversification, potentially impacting investor sentiment.
• The increase in the public float of Class A Ordinary Shares due to the secondary offering could lead to increased trading volatility or downward pressure on the share price if market demand does not keep pace with the increased supply.

Future Outlook

The document is a beneficial ownership filing and does not contain forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This filing is a routine disclosure of a significant shareholder's ownership stake and changes following a secondary offering. It does not provide broader industry trends or competitive analysis, but it indicates continued market interest in Sportradar Group AG's shares through the secondary offering.

Stakeholder Impact

• Shareholders: The secondary offering provided liquidity for selling shareholders and potentially increased the public float of Class A shares. Existing shareholders might observe a slight reduction in the founder's percentage ownership.
• Investors: The offering provided an opportunity for new investors to acquire Class A shares at a set price. The founder's sale of shares might be a point of analysis for investors regarding insider confidence and future share supply.

Key Dates

Keywords

Sportradar Group AG, Carsten Koerl, Schedule 13G, Beneficial Ownership, Class A Ordinary Shares, Secondary Offering, Share Sale, SEC Filing, H8088L103