Endeavor seeking to raise over $500m in revived IPO
Endeavor, the former Hollywood talent agency turned global entertainment, sport and content company, is aiming to raise $511 million in its revived initial public offering.
Endeavor, whose assets include IMG, the international sports and entertainment company, and UFC, the mixed martial arts promotion, filed a full prospectus with the US Securities and Exchange Commission on Tuesday.
It is looking to sell 21.3 million shares priced at between $23 and $24 per share.
The proposal values Endeavor at $10 billion.
It is the second time Endeavor has moved to launch an IPO, with the initial plan in late 2019 shelved amid unfavourable market conditions.
At the time, the company had concerns about being undervalued, after seeing other newly-public firms struggle.
Ahead of the resurrected IPO, Endeavor unveiled plans to take full control of UFC (it presently has a 50.1 per cent stake).
The company is conducting a private sale of preferred shares to raise about $1.7 billion in order to complete this transaction.
The 2019 IPO would have seen Endeavor filing to raise a minimum of $500 million, after being valued at close to $6.5 million at that point.
The company recently announced that Elon Musk, chief executive of the Tesla car brand, had been nominated to join its board of directors.