VVV Sports will seek to raise approximately £5 million through a proposed placing of new shares to fund its US expansion, working capital and further investment in subsidiaries, with the issue price expected to be at or around the current market price and final details to be announced.
The ambitious AQUIS-quoted sports and media vehicle said net proceeds are to be used, in order, to establish VVV USA with a planned Miami base, launch VVV Sport Book and roll out the R3 Bullpadel Cup in the US, support Bullpadel equipment distribution via MRH Sport and finalise distribution terms for other geographies.
It also intends to continue development of Centres of Excellence, in the UAE and New York, as well as expand TOPSERIES Pickleball operations.
Also, it plans to produce new premium content, including a six‑part docuseries with Amazon Prime.
VVV, which describes itself as a next‑generation sports, media and entertainment business, has acquired 100% of TOPSERIES Pickleball, a leading pickleball circuit and tour infrastructure business operating across Europe, the Middle East and Africa.
The board expects the Placing to close by the end of June and intends, subject to applicable listing requirements, to seek a dual listing on the NASDAQ Global Market while retaining its Aquis Growth Market listing.
The Abu Dhabi Padel Centre of Excellence, which VVV is progressing with Abu Dhabi Project and Infrastructure Company (ADPIC), is planned as a 55,000sqm development with an investment of over £120 million scheduled for delivery within 24 months.
