Endeavor, the parent company of the Ultimate Fighting Championship, will become a publicly-owned entity this fall in hopes of raising $620 million.
According to Variety, the company expects a price of $30 to $32 per share during its initial public offering later this year. Endeavor plans to sell 19.4 million shares, with another 2.9 million shares potentially being offered to IPO underwriters such as Goldman Sachs, JP Morgan and Morgan Stanley.
Endeavor plans to use $500 million from the IPO to pay off debt, while another $46.8 million will be targeted for working capital and general corporate purpose.