UFC owner Endeavor looking to raise nearly $700 million when it goes public
UFC majority owner Endeavor (formerly WME-IMG) is set to go public with the possibility of raising in the neighborhood of $700 million dollars from its initial public offering.
Endeavor has been in the process of going public for quite some time, but put off its initial summer timeframe to acquire live events company On Location Experiences LLC.
In its filing with the Securities and Exchange Commission, Endeavor has registered more than 22 million shares of Class A common stock shares, which it expects to sell in the range of $30 to $32 per share. If Endeavor sold all of its registered Class A shares at the high end of its target range, the company would raise around $712 million.
According to a report by The Wrap, Endeavor is more likely to release 19-million-plus Class A shares at the time of the IPO. At the low end of $30 per share, Endeavor would raise over $580 million or more than $619 million at the top end of $32 per share.
This article first appeared at News – MMAWeekly.com
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