Endeavor Looks to Raise as Much as $712 Million With IPO

Initial stock price expected to be between $30 and $32 per share

Last Updated: September 16, 2019 @ 9:58 AM

Endeavor believes its IPO will value the company’s first batch of publicly available Class A common stock shares at as much as $712 million, according to a Monday filing with the Securities and Exchange Commission (SEC).

They came to that number by multiplying more than 22 million registered shares by $32 apiece. That represents the high end of what Endeavor expects its stock to sell for. The low end is $30.

Likely, however, Endeavor will *only* release 19-million-plus shares at the time of its initial public offering, an individual with knowledge of the plan tells TheWrap. At $30 per share, that would raise just under $581 million. At $32, that figure jumps to more than $619 million.

Endeavor registered to trade its stock on the New York Stock Exchange under the ticker symbol EDR.

The “approximate date of commencement of proposed sale to the public” is listed as “as soon as practicable” after today’s  S-1 registration statement “becomes effective.” Monday’s filing was the fourth amendment to Endeavor’s S-1.

The Endeavor IPO was initially planned for this summer. That was delayed to accommodate the company’s acquisition of live-events company On Location Experiences LLC for as much as $700 million.

Endeavor is the combination of sports, events, fashion and talent-management IMG and the agency WME. WME purchased IMG in 2014 for $2.3 billion.

WME itself was the combination of the legendary William Morris Agency and Endeavor.

The new Endeavor purchased the UFC in 2016. It also owns Miss Universe and the Professional Bull Riders tour. In 2017, Endeavor launched Endeavor Content, which is says as financed and/or sold more than 100 films and TV shows in the time that has followed.

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