Churchill Downs repurchases 1M shares at $123.75 each from Duchossois affiliate

Churchill Downs Inc

Repurchased 1,000,000 shares at $123.75/share, a 4.03% discount to prior close of $128.95.
Aggregate purchase price of $123.75 million, funded from cash and credit facility.
Transaction authorized by Board, separate from existing share repurchase program.
Expected to close on January 2, 2024.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Churchill Downs Inc entered into Stock Repurchase Agreement with an affiliate of The Duchossois Group, Inc. ("TDG") valued at $123.75 million (effective 2023-12-18).

Action: entry
Counterparty: an affiliate of The Duchossois Group, Inc. ("TDG")
Value: $123.75 million
Effective: 2023-12-18

Exact text from the filing

On December 18, 2023, Churchill Downs Incorporated (the “Company”) entered into an agreement with an affiliate of The Duchossois Group, Inc. (“TDG”) to repurchase 1,000,000 shares of the Company’s common stock, no par value (the “Common Stock”), in a private transaction at a price per share equal to $123.75, representing a discount of 4.03% to the closing price on December 15, 2023 of $128.95, for an aggregate purchase price of $123.75 million (the “Stock Repurchase Agreement”).

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Source: SEC EDGAR

accession 0000020212-23-000139

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