Endeavor Group Holdings, a global entertainment production company and talent agency, withdrew its plans for an initial public offering on Wednesday. After slashing its terms, the company filed to raise $398 million by offering 15 million shares at a price range of $26 to $27 to command a market cap of $6.4 billion, then postponed its offering on September 26, 2019. It originally filed to raise $600 million by offering 19.4 million shares at a range of $30 to $32, commanding a market cap of $7.7 billion.
The Beverly Hills, CA-based company was founded in 1995 and booked $4.2 billion in sales for the 12 months ended June 30, 2019. It had planned to list on the NYSE under the symbol EDR. Goldman Sachs, KKR, J.P. Morgan, Morgan Stanley, Deutsche Bank, Barclays, Citi, Credit Suisse, RBC Capital Markets, UBS Investment Bank, Evercore ISI, Jefferies and HSBC Corporation were set to be the joint bookrunners on the deal.
