Endeavor forced to withdraw from the IPO, leaving UFC owners with a "tarnished reputation"

Endeavor Group Holdings Inc., the parent company of the Ultimate Fighting Championship (UFC), was hoping to raise more than $ 600 million during its initial public offering (IPO) on Friday, with share prices rising to somewhere between $ 30 and $ 32 per share.

Instead, they will raise the white flag.

That's because the demand for the stock was "less than expected," according to Deadline, which Endeavor tried to counter by lowering its IPO to $ 26-27 per share. That equals $ 200 million for Ari Emanuel, which was not enough.

"It's a blow to Ari. This has definitely damaged his reputation, "investment banker Lloyd Greif told The Times. "It will be interesting to see what happens next. They will have to find ways to access the capital markets. "

Endeavor did not abandon its public announcement plan, but cited "market conditions" as the cause of Thursday's rush. There is no doubt that the disastrous beginnings of Peloton Interactive Inc., which had dropped 11% in the first day, led Emanuel to guess his debut.

For now, Endeavor – which bought UFC for $ 4 billion in 2017 – will have to develop a new strategy to repay its overvalued debt. Maybe it's time to put the power of combat sports back on the market and end up with $ 3 billion in the dark?