Melbourne, Australia - Catapult is pleased to confirm the company’s official listing on the Australian Securities Exchange (ASX) this Friday, December 19.
With the ASX code ‘CAT’, Catapult Group International Ltd will list with a market capitalisation of $66 million after receiving strong demand from investors for its $12m raising.
Funds raised from the IPO will go to significantly expand the Company’s presence in North America and Europe including expanding headcount to 22 and 13 in each region respectively. Funds will also be used to boost its marketing budget to capitalize on current sales pipeline and working capital to fund ongoing growth.
“The IPO represents the next stage of evolution for the company” Chief Executive Officer and co-founder Shaun Holthouse said. “Our focus continues to be on the US and European markets and the funds raised from the IPO will assist in growing our presence in these important markets.
“In the US we are particularly focussed on the US college sports system as while there are 3,800 athletes involved in the four big professional sports there are 450,000 registered NCAA athletes in college sport,” Holthouse said. “They have an enormous amount of revenue flowing to those sports, including lucrative television rights deals.
“You have to remember they have kids as athletes so they have a higher duty of care for these guys. And they don’t pay salaries. You have all this money flowing into the sport but you are missing the biggest line item in the budgets of the pro teams.’’
Catapult welcomes its new shareholders and looks forward to an exciting phase of the company’s growth.
Catapult empowers elite coaches globally with scientifically-validated metrics for the advancement of athlete performance. The company’s wearable technology and analytical software provides objective information behind athlete risk, readiness and return to play.
Catapult was born out of the Australian Institute of Sport (AIS) and the Cooperative Research Centres (CRC), pioneering GPS tracking for team sports. Catapult now works with over 500 elite teams and institutes around the world, providing an all-encompassing solution with research-based insights in to athlete management.
Catapult is based in Melbourne, Chicago and Leeds. For more information, please visit catapultsports.com.