UFC parent company Endeavor goes public with stock sale


Endeavor Group Holdings, the media conglomerate and ownership company of UFC, launched an initial public offering Thursday.

Executives Ari Emanuel and Patrick Whitesell, as well as UFC president Dana White, all appeared at the New York Stock Exchange, where Endeavor stock began trading at $24 per share and closed at $25.20.

“It’s official,” White wrote on Instagram. “The UFC is now a public company.”

According to filings with the Securities and Exchange Commission last month, Endeavor is in the process of acquiring 100% ownership of UFC. Previously, Endeavor had owned 50.1% of the promotion, which it purchased from Lorenzo and Frank Fertitta for $4 billion in 2016.

The coronavirus pandemic hit Endeavor hard in 2020. According to the same filings with the SEC, the company reported a $625 million net loss on $3.5 billion in revenue in 2020.

Endeavor planned to go public in 2019 but pulled back at the last minute, reportedly due to low demand. The company also owns the Professional Bull Riders tour and Miss Universe.

ESPN’s Marc Raimondi contributed to this report.

Source link

Articles You May Like

Matt Wallace ahead at PGA Tour’s Corales Puntacana Championship
Crowning a champion in college football’s 2023 64-team playoff
Brice Garnett, Ben Martin tied for lead at windy Punta Cana
1-32 poll, biggest offseason decisions
Veteran infielder Jed Lowrie retires after 14 MLB seasons

Leave a Reply

Your email address will not be published. Required fields are marked *