Endeavor Group Holdings, a global entertainment production company and talent agency, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering. However, this is likely a placeholder for a deal we estimate could raise up to $500 million. Endeavor Group had previously planned to raise $398 million at a $6.4 billion market cap in September 2019, but postponed and withdrew the following October.
Endeavor is a premium intellectual property, content, events, and experiences company. The company operates across three segments: Owned Sports Properties; Events, Experiences & Rights; and Representation. Its portfolio includes UFC, IMG Media, and WME, among others.
The Beverly Hills, CA-based company was founded in 1995 and booked $3.5 billion in revenue for the 12 months ended December 31, 2020. It plans to list on the NYSE under the symbol EDR. Morgan Stanley, Goldman Sachs, J.P. Morgan, KKR, Deutsche Bank, Barclays, Citi, Credit Suisse, Evercore ISI, HSBC, Jefferies, Moelis & Company, Piper Sandler, RBC Capital Markets and UBS Investment Bank are the joint bookrunners on the deal. No pricing terms were disclosed.
