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Student athlete recruiting platform Signing Day Sports prices downsized IPO at $5 midpoint

November 14, 2023

Signing Day Sports, which operates a recruiting platform for student athletes, raised $6 million by offering 1.2 million shares at $5, within the range of $4 to $6. The company offered 0.3 million fewer shares than anticipated. It originally planned to offer 3.8 million shares before cutting the terms in June.

Signing Day Sports provides a digital platform to help student athletes get discovered and recruited by coaches and recruiters across the country. The platform is currently used by high schools, sports clubs, and aspiring high school athletes, as well as colleges in the NCAA (Division I, II, and III) and the NAIA. The company currently supports football, baseball, softball, and men's and women's soccer though it plans to expand into additional sports. The company is small and has a limited operating history.

Signing Day Sports plans to list on the NYSE American under the symbol SGN. Boustead Securities acted as sole bookrunner on the deal.