Endeavor Announces Pricing of Initial Public Offering

Rhea-AI Summary

Endeavor Group Holdings, Inc. announced the pricing of its initial public offering (IPO) of Class A common stock at $24.00 per share, offering 21,300,000 shares, with an additional option for underwriters to purchase 3,195,000 shares. Trading is set to commence on the New York Stock Exchange under the symbol 'EDR' on April 29, 2021, with the offering expected to close on May 3, 2021, pending customary conditions. The registration statement was effective as of April 28, 2021.

Positive

• Expected trading of 21,300,000 shares at a public price of $24.00 per share.
• Potential for an additional 3,195,000 shares from underwriters' option.

Negative

• The offering could lead to shareholder dilution.
• -

Endeavor Group Holdings, Inc. (“Endeavor”), a global entertainment, sports and content company, today announced pricing of its initial public offering of Class A common stock at a price to the public of $24.00 per share. Endeavor is offering 21,300,000 shares of its Class A common stock, plus up to an additional 3,195,000 shares of Class A common stock that the underwriters have a 30-day option to purchase. The shares are expected to begin trading on the New York Stock Exchange on April 29, 2021 under the symbol “EDR” and the offering is expected to close on May 3, 2021, subject to customary closing conditions.

Morgan Stanley, Goldman Sachs & Co. LLC, J.P. Morgan and Deutsche Bank Securities are acting as joint lead bookrunners, Barclays, Citigroup, Credit Suisse, Evercore ISI, HSBC, Jefferies LLC, Moelis & Company LLC, Piper Sandler & Co., RBC Capital Markets and UBS Investment Bank are acting as joint bookrunners and CODE Advisors, DBO Partners, LionTree, Academy Securities, R. Seelaus & Co., LLC, Samuel A. Ramirez & Company, Inc. and Siebert Williams Shank are acting as co-managers for the proposed offering.

A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on April 28, 2021. The offering is being made only by means of a prospectus, copies of which may be obtained from: Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 1-866-471-2526 or by email at prospectus-ny@ny.email.gs.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmorganchase.com; and Deutsche Bank Securities, Attn: Prospectus Department, 60 Wall Street, New York, New York 10005, telephone: 800-503-4611 or via email: prospectus.cpdg@db.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Endeavor

Endeavor is a global entertainment, sports and content company, home to many of the world’s most dynamic and engaging storytellers, brands, live events and experiences. The company is comprised of industry leaders including entertainment agency WME; sports, fashion, events and media company IMG; and premier mixed martial arts organization UFC. The Endeavor network specializes in talent representation, sports operations & advisory, event & experiences management, media production & distribution, experiential marketing and brand licensing.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210428006178/en/

FAQ

What is the share price for Endeavor's IPO under the symbol EDR?

Endeavor's initial public offering price is set at $24.00 per share.

How many shares is Endeavor offering in its IPO?

Endeavor is offering 21,300,000 shares in its IPO, plus an additional option for underwriters.

When will Endeavor's shares start trading on the NYSE?

Endeavor's shares are expected to begin trading on the NYSE on April 29, 2021.

When is the expected close date for Endeavor's IPO?

The offering is expected to close on May 3, 2021.