Digital marketing service provider Gambling.com Group reduces transaction size by 50% ahead of $ 45 million US IPO.

GRAMambling.com Group, which provides digital marketing services to the online gaming industry, reduced the size of the proposed deal for its next initial public offering on Thursday.

The St. Helier, Jersey-based company now plans to raise $ 45 million by offering 5.3 million shares priced between $ 8 and $ 9. The company had previously filed to offer 7.5 million shares in a range. $ 11 to $ 13. At the midpoint of the revised range, Gambling.com Group will raise -50% less in profit than previously anticipated.

Gambling.com Group is a performance marketing company and digital marketing service provider exclusively active in the online gambling industry, with a primary focus on iGaming and sports betting. Through its proprietary technology platform, the company publishes a portfolio of branded websites, including Gambling.com and Bookies.com. The company claims that it can alternatively be described as a lead generation company or an affiliate marketing company. Gambling.com Group owns and operates 32 different websites in six languages ​​in 13 national markets covering all aspects of the online gaming industry. The company referred more than 100,000 players to online gambling operators in 2020, and has grown its customer base from 131 in 2017 to more than 200 in 2020.

Gambling.com Group was founded in 2006 and posted $ 35 million in revenue for the 12 months ended March 31, 2021. It plans to trade on the Nasdaq under the symbol GAMB. Jefferies, Stifel and Truist Securities are the joint bookmakers for the deal.

The article, digital marketing service provider Gambling.com Group, cuts transaction size by 50% ahead of the $ 45 million US IPO.

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