NeoGames, which provides online gaming technology and services to lottery operators, has priced its IPO above the anticipated range at $17 a share.
NeoGames listed on the Nasdaq stock exchange under the symbol NGMS on Thursday. Stifel, Macquarie Capital and Truist Securities acted as lead managers on the deal.
The company raised $82m by offering 4.8m shares (2,627,061 shares offered by the company and 2,180,461 shares offered by existing shareholders) at $17 per share.
At that pricing, NeoGames raised 13% more in proceeds than expected, as the $17 share price was above the range of $14 to $16 anticipated.
Underwriters also have the option to purchase up to an additional 721,128 shares at the initial public offering price in the next 30 days.
Founded in 2005, the company booked $44m in sales for the 12 months ended September 30, 2020. It provides interactive lottery services to a host of lotteries, including the Czech Republic’s Sazka, Italy’s Sisal, and William Hill US.