Fantex To Hold First Athlete-Brand IPO

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Fantex To Hold First Athlete-Brand IPO

Fantex Inc (OTCMKTS:ANFRL) is finally going to hold its first IPO, this time touting San Francisco 49ers tight end Vernon Davis, reports William Alden for The New York Times. The company is offering shares meant to represent a share of Davis’ future income, though the stock carries a number of risks that normal equities don’t.

Previous Fantex IPO prevented by injury

Fantex Inc (OTCMKTS:ANFRL) is selling 421,000 shares at $10 per share according to the company’s press release, and the total value of those shares will be equal 10% of Davis’ lifetime earnings, so the football player needs to earn $42 million from here on for investors to break even. That’s not impossible – Davis was a first round draft pick and he’s made tens of millions so far, but he’s also pushing 30 in a sport that doesn’t have many older players. Fantex had previously meant to hold an IPO for Houston Texan running back Arian Foster, but an injury forced them to delay the deal. If that injury had come after the scheduled IPO instead of before it, a lot of people may have lost their shirts.

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