Entertainment group Endeavor seeks to raise $619 in IPO

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Entertainment group Endeavor seeks to raise $619 in IPO

CA-based media and events company, Endeavor Group Holdings Inc., shortly dubbed Endeavor with offices in Beverly Hills, California, had issued a public statement later on Monday (September 16th) saying that the entertainment, sports and talent agency company had been exploring an option to raise as many as $619 million in its slated initial public offering which would lift its market valuation to as little as $7.8 billion.

Aside from that, the company said in a regulatory filing on Monday (September 16th) that the California based media and events company had been working out a plan to offer as much as 19.4 million Class A stocks, which would likely to be priced between $30 to $32 per share.

More critically, the company had also added on Monday (September 16th) that the Initial Public Offering would be forged ahead in a bid to raise funds to repay its $500 million worth of long-term borrowings, while the company had expressed its intents to capitalize rest of the funds for potential takeovers alongside other complementary businesses.

Besides, the events and media company’s assets include a mixed martial arts promotion company, Ultimate Fighting Championship alongside WME-IMG, a talent and recruiting agency. Apart from that, according to the company’s Monday’s (September 16th) statement, the company had posted a net revenue of $3.61 billion, roughly 20 per cent up from a $3.02 billion a year earlier.