The media conglomerate Endeavor Group Holdings announced that they have officially gone public and opened at $24 per share. Endeavor is traded on the New York Stock Exchange using the symbol, EDR.
The business transaction was spearheaded by executives Ari Emanuel and Patrick Whitesell alongside UFC president Dana White. In addition, news of the publicly traded company was posted on social media Thursday morning.
Dana White posted a photo of himself on Wall Street with the caption, “It’s official the UFC is now a public company #EndeavorIPO”
Early last week, there were indications that filings with the Securities and Exchange Commission were made in order to secure 100% ownership of the UFC. Specifically, the parent company of the fighting promotion agreed to take full control and also offer an initial public offering (IPO) later this year to help the agency finance the complete buyout. In addition, Endeavor took a big hit due to the Coronavirus pandemic, and the same commission reported giant losses amounting to a $625 million net loss on $3.5 billion in revenue.
Initially, the media conglomerate planned to go public in 2019, but because of low demand, Endeavor Group Holdings decided to pull back and wait. It seems the wait is over, and now the parent company to the UFC will be a publicly traded stock recognized in the New York stock exchange. The company’s ticker symbol represented in the stock market is EDR.
With the sport riding a high after a couple of pay-per-view shows hit big this year, it seems like a good time to invest in the UFC or Endeavor Group Holdings before the fighting promotion is back with consistent live gates across the world.
What do you make 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!
