Report: Endeavor Pulls IPO Day Before Going Public

Endeavor, who is the parent company of the UFC, was set to go public today with their IPO, but that won’t be happening anymore.

A report from the Wall Street Journal is stating that due to a poorer than hoped for reception, a decision was made by Endeavor to pull their IPO. This isn’t the first time the company has either pulled or delayed their IPO, as a similar situation happened this past Summer after Endeavor purchased OnLocation Experiences. 

The hope internally for Endeavor was that they would raise somewhere between $30 to $32 per share, which would bring the company approximately $600 million in capitol. Endeavor had produced a video in an attempt to capture the interest of potential investors, but the response what the opposite of what the company was looking for.

Factors such as a B credit rating and ever growing debt is reportedly what led to a less than ecstatic return from potential investors. 

Barron’s Financial & Investment News notes that “there are provisions in their ownership agreement that could trigger an early IPO—and by August 2021, any of the three owners can individually demand that the [UFC] go public.”

This could be nothing more than a delay so that Endeavor can repackage themselves for a future IPO offering and re-enter the market at a future date.