Entertainment Firm Endeavor Seeks to Raise $511 Million in IPO


Endeavor Group Holdings Inc., the entertainment and Hollywood talent company, is seeking as much as $511 million in its U.S. initial public offering.

The company will sell 21.3 million class A shares at $23 to $24 apiece, according to a Tuesday filing with the U.S. Securities and Exchange Commission. A group of institutional investors separately agreed to buy $1.8 billion worth of shares in a private placement from Endeavor and existing investor KKR & Co. The group includes Coatue Management, Elliott Investment Management and Silver Lake.

At $24, Endeavor would be valued at $10.5 billion, including restricted stock units and share conversions, according to data compiled by Bloomberg.

Endeavor, which owns the UFC sports league and operates events and talent businesses, said it will use part of the the proceeds from the IPO and private placement to buy shares from UFC holders.

The company had filed to go public in 2019 but the deal was shelved as the company cited unfavorable market conditions.

Morgan Stanley, Goldman Sachs Group Inc., JPMorgan Chase & Co. and Deutsche Bank AG are leading the offering. Endeavor plans to list on the New York Stock Exchange under the symbol EDR.

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