Total Sports, based in Raleigh, N.C., has five sports networks that broadcast baseball, college, golf, racing and fishing events across more than 100 websites and provides news, historical data, and analysis.
Total Sports said it plans to use the net proceeds from the IPO to increase marketing, expand technology infrastructure, pursue strategic alliances and general corporate purposes, according to the preliminary prospectus filed with Securities and Exchange Commission (SEC) The company has applied to list its shares on Nasdaq.
The $57.5 million figure cited in the IPO filing was merely a basis for calculating the SEC registration fee, the company said. The underwriters include J.P. Morgan & Co., Hambrecht & Quist, Allen & Co. Inc. and U.S. Bancorp Piper Jaffray.
NBC Sports Inc., a unit of General Electric Co., has a 10.55% stake in Total Sports and Labatts Brewing Co has a 5.25% stake.
Total Sports Inc., a provider of online coverage of sporting events, has filed with regulators to raise as much as $57.5 million in an initial public offering.
