MMA training app firm Alta Global priced its initial public offering Wednesday night, putting the Australian business long known as Wimp 2 Warrior on the NYSE American Exchange at $5 a share. Alta was co-founded by John Kavanagh, who is widely recognized as training UFC champion Conor McGregor.
Alta Global operates a tech platform that allows gyms to run various mixed-martial arts training programs, including Alta’s Warrior Training Program and UFC Fight Fit. The business also allows for gyms to collect revenue in exchange for one-time fees.
The company, which changed its name from Wimp 2 Warrior in 2022, sold 1.3 million shares raising $6.5 million dollars. The business begins trading Thursday under the ticker MMA. As the offering size suggests, Alta is still a relatively small business, having generated sales of AUD 1.54 million (about $1 million) in 2023 and tallying up a net loss of AUD 20.6 million ($13.4 million).
The business says it plans to tap into the fast global growth of combat sports; MMA globally has 11.8 million participants worldwide. That leaves lots of room for growth for Alta, which said 865 people took its Warrior Training Program in 2023. Based in Dublin, Kavanagh helps to develop Alta’s programs and create relationship with gyms globally, according to the prospectus. However he has no management roll and isn’t listed as a major shareholder, according to the offering document. The other co-founders of the business are Australians Nick Langton, a banking executive, and James Fleet, who developed the company’s technology platform.