UFC parent company goes public with stock sale

MMA

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, were all in appearance in New York, where Endeavor stock began trading at $24 per share.

“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.

Articles You May Like

Formula 1: United States’ Logan Sargeant doesn’t feel ‘extra pressure’ at Williams
Maddux reunites with Rangers as pitching coach
Venezuelan league slams violence after 2 brawls
Bergeron reaches 1,000th point with assist in win
“The Hardest Thing Was…”: Justin Langer Opens Up On Being “Sacked” As Coach

Leave a Reply

Your email address will not be published.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