TKO Group announces $100M share repurchase as Vince McMahon sells 8.4M shares in secondary offering

TKO Group Holdings, Inc.

Selling stockholder Vincent K. McMahon sold 8,400,000 shares of Class A common stock at $79.80 per share; TKO received no proceeds.
TKO repurchased 1,308,729 shares from underwriters for approximately $100M, funded by borrowings under its revolver.
CEO Ariel Emanuel and President Mark Shapiro each purchased 12,531 shares in the offering; other directors bought 10,650 shares.
Secondary offering closed on November 14, 2023; underwriting agreement filed as Exhibit 1.1.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

TKO Group Holdings, Inc. entered into Underwriting Agreement with Morgan Stanley & Co. LLC, as representative of the various underwriters, and Mr. Vincent K. McMahon valued at underwritten secondary offering of 8,400,000 shares of Class A Common Stock at $79.80 per share; TKO (effective 2023-11-09).

Action: entry
Agreement: underwriting
Counterparty: Morgan Stanley & Co. LLC, as representative of the various underwriters, and Mr. Vincent K. McMahon
Value: underwritten secondary offering of 8,400,000 shares of Class A Common Stock at $79.80 per share; TKO
Effective: 2023-11-09

Exact text from the filing

On November 9, 2023, TKO Group Holdings, Inc. (“TKO” or the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with TKO Operating Company (“TKO OpCo”), Morgan Stanley & Co. LLC, as representative of the various underwriters (collectively, the “Underwriters”), and Mr. Vincent K. McMahon (the “Selling Stockholder”), in connection with the underwritten secondary offering by the Selling Stockholder of 8,400,000 shares of the Company’s Class A common stock, par value $0.00001 per share (the “Class A Common Stock”), at an offering price of $79.80 per share (the “Secondary Offering”).

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TKO Group Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-277103

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