Media conglomerate Endeavor Group Holdings announced that they officially went public and opened at $ 24 a share.
The business transaction was spearheaded by executives Ari Emanuel and Patrick Whitesell along with UFC president Dana White. Also, news of the publicly traded company was posted on social media on Thursday morning. Subsequently, Endeavor’s stock began trading at approximately $ 24 per share.
“It is official that the UFC is now a public company #EndeavorIPO,” posted Dana White.
Early last week, there were indications that filings were made with the Securities and Exchange Commission to secure 100% ownership of the UFC. Specifically, the parent company of the struggling promotion agreed to take full control and also offer an initial public offering (IPO) later this year to help the agency finance the full purchase. Additionally, Endeavor was hit hard by the Coronavirus pandemic, with the same commission reporting giant losses amounting to a net loss of $ 625 million on $ 3.5 billion in revenue.
Initially, the media conglomerate planned to go public in 2019, but due to low demand, Endeavor Group Holdings decided to pull out and wait. It looks like the wait is over, and now the UFC parent company will be a publicly traded stock recognized on the New York Stock Exchange. The ticker symbol for the company represented on the stock market is EDR.
With the sport riding high after a couple of pay-per-view shows were hugely successful this year, it seems like a good time to invest in the UFC or Endeavor Group Holdings before the wrestling promotion returns with consistent live doors. around the world.
What do you think of the recent news about UFC’s parent company, Endeavor? Do you think the structure of the fighting business will change or will things stay the same? Let us know below!