Entertainment Giant Endeavor Postpones IPO: Report
After pulling back on its planned initial public offering and slashing its price range early Thursday, entertainment giant Endeavor Group Holdings reportedly has postponed its IPO, according to media reports.
Hollywood’s biggest talent agency, which also owns the Ultimate Fighting Championship, had been scheduled to begin trading Friday on the NYSE.
The New York Post reported late Wednesday that the company was having trouble rallying investor interest in the IPO. The company originally planned to go public in May, but moved the timing to the fall.
In a regulatory filing earlier Thursday, the company had said it would offer 15 million shares priced at $26 to $27 each, down from the 19.4 million shares priced at $30 to $32 each it had announced in a filing earlier this month.
Endeavor applied to list on the NYSE under the ticker symbol “EDR.” The lead underwriters are Goldman Sachs, KKR, J.P. Morgan, Morgan Stanley and Deutsche Bank Securities, according to the filing.
Endeavor’s amendment came on the same day as the disappointing public debut of indoor cycling company Peloton (PTON) . Peloton’s shares opened at $27 and closed down 11.17% at $25.76. Shares dipped another 0.23% in after-hours trade.