UFC’s parent company Endeavor files for IPO; nominates Elon Musk to its board of directors

UFC’s parent company Endeavor files for IPO; nominates Elon Musk to its board of directors

UFC’s parent company Endeavor have once again applied for an Initial Public Offering (IPO) after making an attempt in 2019. They had decided to proceed with the offering in 2019, but later withdrew due to unfeasible market conditions. And here they are again filing to go public.

In a statement released regarding the IPO, the company revealed that they had entered into a transaction agreement that will give them 100 per cent control over the UFC directly or indirectly. The transaction agreement was dated – 16th of February, 2021.

‘We currently own 50.1% of UFC Parent’s common equity‘

https://www.youtube.com/watch?v=wgV4BqeKzZM

Here is the statement regarding the IPO. “On February 16, 2021, Endeavor Operating Company entered into a Transaction Agreement with the Other UFC Holders and certain of their affiliates pursuant to which Endeavor Operating Company will directly or indirectly acquire equity interests in UFC Parent (including warrants of UFC Parent or common equity received by warrant holders from the exercise of warrants of UFC Parent) from the Other UFC Holders (or their affiliates) resulting in Endeavor Operating Company directly or indirectly owning 100% of the equity interests of UFC Parent (the “UFC Buyout”).” [via MMA Fighting]

FS Video

“We currently own 50.1% of UFC Parent’s common equity and have consolidated UFC Parent’s financial results from the date of the UFC acquisition in 2016.“

With Endeavor deciding to go public, it will give them total control over the UFC, (they currently own 50.1%). Will it affect Dana White’s position as the UFC President? What are your thoughts?

Also Read : Miesha Tate talks about struggle with depression after retirement

Also Read : Jorge Masvidal sends a stern warning to Kamaru Usman