Endeavor Group Holding Inc. is set to go public, revealing plans to take complete ownership of UFC and highlighting its transformation from an agency of talent into a media conglomerate with a collection of high-profile sports and entertainment brands.
On Wednesday Endeavor revealed paperwork it filed with the Securities and Exchange Commission, which sets the stage for the company to go public in the coming weeks.
As part of the deal in a separate private placement that will take place at the time of the IPO, Endeavor will raise almost $1.8 billion from a mix of high-profile investors. They include Fidelity Management & Research Co., Dragoneer Investment Group LLC and Elliott Management Corp. That funding will proceed toward acquiring the 49.9% stake that it doesn’t own of the Ultimate Fighting Championship.
Endeavor will raise additional funds from public market investors but didn’t reveal what it plans to raise.
In its filing, Endeavor also revealed that Elon Musk, CEO of Tesla Inc. and Space Exploration Technologies Corp., known as SpaceX, had been nominated to the company’s board.