Endeavor Group Holdings has priced its initial public offering at $30 to $32 per share, with 19,354,839 Class A shares hitting the market, a move that would raise up to $712 million.
The offering values to company at about $8 billion.
The details were disclosed in an amended S-1 filed Monday with the SEC. Endeavor intends to trade on the New York Stock Exchange under the ticker symbol “EDR.”
The company, which is led by CEO Ari Emanuel and executive chairman Patrick Whitesell, first filed its IPO paperwork last May. The offering was delayed pending the close of the $700 million acquisition of hospitality and live events company On Location Experiences.
Endeavor has expanded far beyond its traditional talent agency roots. A decade ago, it pulled off a mega-merger with William Morris, ushering in a new era for representation. In the years since, it has acquired the UFC mixed-martial arts circuit, fashion and sports management group IMG, the Professional Bull Riders tour and streaming provider NeuLion. The transactions are key reasons why the company reported $4.5 billion in debt as of June 30.
Many members of Hollywood’s creative community have aimed their ire at Endeavor for creating what they consider a conflict of interest by representing clients while also expanding production activities. That trend helped motivate members of the WGA to fire their agents at Endeavor and other major firms earlier this year. The guild has issued numerous statements blasting Endeavor’s IPO plan given the timing.
The amended SEC filing also included financial results for the first six months of 2019. Endeavor said it brought in a bit more than $2 billion in revenue, compared with $1.5 billion in the same period of 2018. Net losses narrowed to $220.3 million from $475.6 million.