Elon Musk buying shares in UFC owner Endeavor sparks fresh IPO talk
Already an inventor, entrepreneur, rocketeer and worth an estimated US$173bn – hand-to-hand hand combat was perhaps the glaring omission on Elon Musk’s Avengers application form, that was until his entry into cage fighting.
The Tesla and SpaceX boss was on Wednesday named as a director nominee of UFC owner Endeavor Group Holdings, pending a purchase of shares by the rocketman.
Media outlets have been quick to speculate that Musk’s involvement precedes a fresh attempt to take Endeavor public following a failed float in 2019.
Endeavour also owns the WME ‘mega’ talent agency which counts Dwayne Johnson (‘The Rock’), Oprah Winfrey, Lebron James, Serena Williams, Adele, and Ricky Gervais among its litany of star clients.
The talent agency is backed by Hollywood ‘power broker’ Ari Emanuel who in 2016 led a US$4bn takeover of the mixed martial arts company, along with a consortium of investors that included Hollywood and music A-listers such as Ben Affleck, Mark Wahlberg, Sylvester Stallone, Michael Bay, LL Cool J, Calvin Harris, Adam Levine, and Anthony Kiedis.
That saw Las Vegas casino operators and brothers Frank and Lorenzo Fertitta cash out of the UFC, which they bought for just US$2mln back in 2000.
Adding Elon Musk, and the army of millennial investors that follow is every move – including buying up cryptos, NFTs, and EV shares – is expected to resuscitate the UFC’s stock market ambitions.
In 2019, the planned US400mln share sale to public investors was choked out only a day before it was due amidst weak demand.
Musk’s anticipated investment may, meanwhile, further support for the company.
Reuters, in a report, noted a regulatory filing by Endeavour which disclosed that it had agreed to take full ownership of the UFC and that its long-term debt stands at some US$5.9bn.
A share sale to several existing and new shareholders would raise US$1.77bn, according to Reuters, meanwhile, documents for a placeholder US$100mln IPO had also been filed.
The Reuters report also noted that Wall Street banks Goldman Sachs, Morgan Stanley, J.P. Morgan and Deutsche Bank would act as underwriters for the offering.
If it proceeds its intended that the shares would trade on the New York Stock Exchange under the symbol ‘EDR’.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/945623/elon-musk-buying-shares-in-ufc-owner-endeavor-sparks-fresh-ipo-talk-945623.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
