As we reported last week here on eWn, TKO reported that Vince McMahon had plans to sell 8.4 million shares of his TKO Holdings stock.
A new SEC filing made yesterday revealed that the sale is complete. The shares were sold at $76.41 per share for a net sale price of $641.844 million.
McMahon now owns 20,435,207 shares, which is about 12% of the company.
You can check out the SEC filing below:
Explanation of Responses:
(1) Pursuant to an underwriting agreement, dated November 9, 2023, among the Issuer, the underwriters listed on Schedule II thereto and the Reporting Person, the Reporting Person sold 8,400,000 shares of the Issuer’s Class A common stock in an underwritten secondary public offering, which closed on November 14, 2023. The shares were sold at a public offering price of $79.80 per share, and the Reporting Person paid an underwriting discount and commission of $3.39 per share, resulting in a net price of $76.41 per share.
(2) Includes 83,102 restricted stock units (“TKO RSUs”). Each TKO RSU represents a contingent right to receive one share of the Issuer’s Class A common stock.
(3) Excludes 100 shares of the Issuer’s Class A common stock owned individually by the Reporting Person’s wife, Linda McMahon. The Reporting Person disclaims beneficial ownership of those shares.
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Vince McMahon, the chairman and CEO of World Wrestling Entertainment (WWE), recently completed the sale of 8.4 million shares of his TKO Holdings stock. The sale was made at a price of $76.41 per share, resulting in a net sale price of $641.844 million.
This news comes after reports last week that McMahon had plans to sell his shares. The completion of the sale was revealed in a new SEC filing made yesterday.
With this transaction, McMahon now owns 20,435,207 shares of TKO Holdings, which represents approximately 12% of the company. It is worth noting that McMahon’s ownership stake in the company has decreased as a result of this sale.
The SEC filing provides an explanation of the sale, stating that it was made through an underwriting agreement. The shares were sold in an underwritten secondary public offering, with a public offering price of $79.80 per share. After deducting an underwriting discount and commission of $3.39 per share, the net price per share was $76.41.
The filing also mentions that McMahon’s ownership includes 83,102 restricted stock units (TKO RSUs), which represent contingent rights to receive shares of TKO Holdings’ Class A common stock.
It is important to note that the filing excludes 100 shares of TKO Holdings’ Class A common stock owned by McMahon’s wife, Linda McMahon. Vince McMahon disclaims beneficial ownership of those shares.
This sale of shares by Vince McMahon has garnered attention in the wrestling community and among investors. As one of the most influential figures in professional wrestling, McMahon’s financial decisions often have implications for the industry as a whole.
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In conclusion, Vince McMahon has completed the sale of 8.4 million shares of his TKO Holdings stock, resulting in a significant financial transaction. This sale has implications for McMahon’s ownership stake in the company and has attracted attention from both wrestling enthusiasts and investors alike.