Endeavor Group is planning an initial public offering (IPO) and new details are revealed in a filing with the U.S. Securities and Exchange Commission (SEC).
Here’s everything potential investors in Endeavor Group need to know about its IPO.
- The company plans to list shares of its stock on the New York Stock Exchange under the EDR ticker.
- This will have it offering up 21.3 million shares of its common stock.
- There’s also a 30-day option for underwriters of the IPO to purchase an additional 3,195,000 shares at the initial price.
- The price range for the Endeavor Group IPO is between $23 per share and $24 per share.
- That has it set to raise as much as $587.88 million from the offering.
- When the offering is complete, Endeavor Group will have five different types of common stock.
- That includes Class A common stock, Class B common stock, Class C common stock, Class X common stock, and Class Y common stock.
- Class A and Class X will have one vote per share.
- The Class Y will be worth 20 votes per share.
- Class B and Class C stocks will be non-voting shares.
- A majority of shares will be held by several executives at the company.
- That includes CEO Ariel Emanuel, executive chairman Patrick Whitesell, as well as their affiliates.
- Endeavor Group was formerly known as William Morris Endeavor Entertainment.
- It’s a holding company for talent and media agencies.
- The company’s main office building is located in Beverly Hills, Calif.
- It has also been expanding to introduce additional forms of business.
- That includes a sports betting business that was launched in 2018.
- The talent agency was founded in 1898 and has signed on many major entertainers.
- A few worth noting are Charlie Chaplin, Marilyn Monroe, and Elvis Presley.
Endeavor Group joins a growing list of companies revealing IPO plans recently.
Several companies have been announcing IPO plans and that includes one that starts trading today. Among them are Alfi, Aveanna Healthcare (NASDAQ:AVAH), and FTC Solar (NASDAQ:FTCI). Investors can get up to speed on this news below.
More IPO News
- Alfi IPO: 16 Things for Potential ALF Stock Investors to Know About the AI SaaS Platform
- Aveanna Healthcare IPO: 5 Things to Know About AVAH Stock as Shares Begin Trading
- FTCI Stock IPO: What to Know as FTC Solar Preps to Come Public
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.