Endeavor Plans To Raise More Than $712M In Forthcoming IPO
Endeavor said that it "plans to raise" as much as $712.3M in its IPO, according to Dave Sebastian of the WALL STREET JOURNAL. Endeavor "plans to offer 19.4 million shares of common stock at $30 to $32 a share." The company also is "granting its underwriters the option to buy an additional 2.9 million shares." For the six months ending June 30, the company recorded revenue of $2.05B, up from $1.5B in the comparable period last year. Endeavor said that the increase was "driven by a 46.4% growth in revenue in its entertainment and sports segment." The company’s entertainment and sports division is its "biggest source of revenue" (WALL STREET JOURNAL, 9/17). In N.Y., Alexandra Steigrad notes Endeavor "first filed for an IPO in May." The IPO was "originally scheduled for summer, but it was shifted to the fall as the firm was reviewing a deal to buy hospitality and live-events company On Location Experiences" for as much as $700M (N.Y. POST, 9/17).