Endeavor on Monday announced plans to go public, listing 19.4 million Class A shares, according to a filing with the Securities and Exchange Commission.
The global entertainment, sports and content company expects to price its initial public offering at between $30 and $32 a share, hoping to raise more than $600 million.
Endeavor is planning to list on the New York Stock Exchange under the symbol "EDR," according to registration documents filed with the Securities and Exchange Commission.
An IPO has been rumored since CEO Ari Emanuel and Patrick Whitesell merged their talent agency with sports and modeling agency IMG in 2013. Since then, Endeavor has acquired the Ultimate Fighting Championship, professional bull riders, the Frieze Art Fair and marketing agency 160over90.
Emanuel saw an opening in the industry in 1995 when he and three others bolted from ICM to launch a talent agency rooted in television writers. He cited a big win in 2009 when 15-year-old Endeavor took over its 111-year-old rival, William Morris Agency, creating the powerhouse William Morris Endeavor (WME).
From there, Emanuel and his core team set their sights on bigger and bolder bets that have taken Endeavor well beyond its roots. With investments in film and TV content, marketing, advertising, sports, fashion, live events, international sales and distribution, Endeavor has rapidly diversified during the past decade.
Goldman Sachs will be the IPO’s lead banker along with KKR Capital Markets, the capital markets arm of the investment firm that helped Endeavor purchase UFC for more than $4 billion in 2016, according to the registration documents. J.P. Morgan, Morgan Stanley and Deutsche Bank are also listed.
