Alliance MMA first company to go public, starts trading at $4.50 a share
Yesterday it was announced that a change was going to be made at Cage Fury Fighting Championships as Devon Mathiesen takes control of the company as its new General Manager and CEO Robert Haydak and Vice President Michael Constantino stepped down.
Now Alliance MMA, a developmental league that helps fighters get into UFC, is going public, the first company in the sport to do so.
Cage Fury Fighting Championships is one of the fight promotions under the Alliance MMA umbrella. It is joined by Shogun Fights, Combat Games, V3 Fights, and Hoosier Fight Club.
According to CNN Money:
“There’s no other way to invest in MMA other than through our venture,” said Alliance MMA Chairman and CEO Paul Danner.
The company will close its initial public offering and start trading at $4.50 a share on Thursday. It plans to generate revenue in three ways — through fights, sponsors and a newly acquired video production company.
Alliance MMA, which was founded in 2015, will bring together lots of smaller local fights and events. That’s part of the reason it decided to go public — to appeal to fight promoters who own their own small businesses.
“Now we can tell promoters ‘Look, we value your private company and will give you cash and stock in ours,'” Danner said. “There’s less loss of power for them and more involvement.”
The league hopes to put on over 125 events a year under the Alliance MMA name.
“We want to be the premier developmental league,” Danner said. “We want to ratchet up the level of professionalism, get involved in fighter management and help athletes understand what their career choices are.”
Alliance MMA will also oversee a video platform, GoFightLive!, and an electronic ticketing site, CageTix.com.