Endeavor Sets IPO Trading Date for Sept. 27

Company plans to raise as much as $712 million in IPO, at a price of $30-$32 per share

Getty Images

Endeavor is ready to make its Wall Street debut, setting its IPO date for Sept. 27.

The entertainment and talent management company plans to host the final listing of its shares on Thursday, Sept. 26 and then begin trading the next day on the New York Stock Exchange under the ticker EDR.

Earlier this week, Endeavor said in a filing with the Securities and Exchange Commission that it planned to raise as much as $712 million through its IPO by offering shares at $32 a piece — $30 on the low end.

Endeavor had planned for its IPO to list this summer. That, however, was pushed in August 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 it says has financed and/or sold more than 100 films and TV shows in the time that has followed.

In the company’s 150 plus-page prospectus filed in May, Endeavor reported that it generated $3.61 billion in revenue in 2018, and had a net income of $231.30 million after two years of losses (Endeavor had a net loss in 2016 of $98.32 million followed by a net loss of $173.16 million in 2017).

As of March 31, the company said it had $499.71 million in cash and cash equivalents, as well as $9.89 billion in total assets. Endeavor’s total long-term debt tallies $4.62 billion.