{"id":113202,"date":"2021-04-30T00:10:17","date_gmt":"2021-04-30T00:10:17","guid":{"rendered":"https:\/\/fin2me.com\/?p=113202"},"modified":"2021-04-30T00:10:17","modified_gmt":"2021-04-30T00:10:17","slug":"ufc-owner-endeavor-shares-spike-as-trading-begins-on-nyse","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/ufc-owner-endeavor-shares-spike-as-trading-begins-on-nyse\/","title":{"rendered":"UFC-owner Endeavor shares spike as trading begins on NYSE"},"content":{"rendered":"
Sources tell FOX Business’ Charlie Gasparino that investors are telling underwriters they are eager to buy shares amid an explosion of trading.<\/p>\n
Endeavor Group Holdings Inc. shares jumped 13% in the opening trade on the New York Stock Exchange. <\/p>\n
Shares of the Ari Emanuel-led Hollywood talent agency that owns the UFC sports league, which trades under the ticker EDR, opened at $27 after pricing at $24, the upper end of the expected range. Wednesday’s pricing valued the company at about $6.1 billion. <\/p>\n
Ticker<\/th>\n | Security<\/th>\n | Last<\/th>\n | Change<\/th>\n | Change %<\/th>\n<\/tr>\n<\/thead>\n |
---|---|---|---|---|
EDR<\/td>\n | ENDEAVOR<\/td>\n | 24.23<\/td>\n | -4.24<\/td>\n | -14.89%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Endeavor is also raising $1.8 billion through a private placement, a U.S. Securities and Exchange Commission filing showed. Investors in the private offering include private equity firms KKR & Co. and Silver Lake Partners and fund manager Elliott Investment Management. <\/p>\n The company, which will add Tesla CEO Elon Musk to its board of directors, plans to use a portion of the proceeds from both its initial public offering and private placement to buy shares from UFC shareholders. <\/p>\n Thursday’s IPO was Endeavor’s second attempt at going public. The company pulled its $400 million IPO in 2019 due to weak investor demand. <\/p>\n CLICK HERE TO READ MORE ON FOX BUSINESS<\/u><\/strong><\/p>\n Endeavor last year posted a $992 million net loss on revenue of $3.48 billion, filings showed. <\/p>\n Morgan Stanley, Goldman Sachs & Co. LLC, J.P. Morgan and Deutsche Bank Securities led the offering. <\/p>\n |