Endeavor Group Holdings has lowered the target price range for its Ipo and reduced the number of shares that will be available for sale to the public as of Friday.
In a Securities and Exchange Commission filing Thursday, Endeavor said its target Ipo price would fall between $26 and $27 a share, down from $30 to $32 as established last week. Endeavor has also cut the number of shares for sale to 15 million, from 19.4 million.
The move comes amid reports of a lukewarm response to Endeavor’s Ipo pitch from institutional investors. A source close to the situation described Endeavor’s adjustment of the offering as an effort to be “conservative and realistic” about the current Ipo environment.
The change in the target price means Endeavor will likely raise around $361 million from the Ipo, down from the projected $550 million. The final Ipo price is expected to be disclosed after the close of trading today,...
In a Securities and Exchange Commission filing Thursday, Endeavor said its target Ipo price would fall between $26 and $27 a share, down from $30 to $32 as established last week. Endeavor has also cut the number of shares for sale to 15 million, from 19.4 million.
The move comes amid reports of a lukewarm response to Endeavor’s Ipo pitch from institutional investors. A source close to the situation described Endeavor’s adjustment of the offering as an effort to be “conservative and realistic” about the current Ipo environment.
The change in the target price means Endeavor will likely raise around $361 million from the Ipo, down from the projected $550 million. The final Ipo price is expected to be disclosed after the close of trading today,...
- 9/26/2019
- by Cynthia Littleton
- Variety Film + TV
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