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UFCowner Endeavor Raises 511M in IPO, Valued at 10.3B

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NEW YORK Reuters Endeavor Group Holdings Inc, the owner of the Ultimate Fighting Championship UFC said on Wednesday it sold shares in an initial public offering IPO at the high end of the target range to raise 511.2 million.

Endeavor priced 21.3 million shares at 24 per share. The company had previously priced the shares at 23 to 24 each.

The IPO values Endeavor at 10.31 billion.

This is Endeavors second attempt at going public after a failed attempt in 2019. Then, the Beverly Hills, California basedcompany abandoned its 400 million offering a day before it was supposed to go public due to weak investor demand.

After its IPO, Tesla Inc Chief Executive Elon Musk is set to join its board of directors.

Endeavor, which is led by Hollywood power broker Ari Emanuel, owns talent agency WME, which counts celebrities such as Dwayne The Rock Johnson, Mark Wahlberg, Serena Williams and Maria Sharapova among its toptier clients. It has also financed movies including La La Land and Just Mercy.

In an earlier filing, Endeavor disclosed plans to acquire the 49.9 stake it doesnt already hold in UFC from privateequity firms KKR and Silver Lake, using proceeds from the IPO and a concurrent private placement of 1.77 billion from investors including Dragoneer, Fidelity, Elliott Management, Tencent and Third Point.

The company will list on the New York Stock Exchange on Thursday under the symbol EDR.

Morgan Stanley, Goldman Sachs, J.P. Morgan, KKR and Deutsche Bank Securities are the…

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