Callaway Golf Prices Upsized Equity Offering By Selling Shareholder At Discount

Callaway Golf Prices Upsized Equity Offering By Selling Shareholder At Discount
  • Callaway Golf Co ELY has announced the pricing of an underwritten public offering of 4 million shares of its common stock by selling shareholder PEP TG Investments LP at $29.25 per share.
  • The price represents a discount of 2.8% to Callaway's closing price of $30.09 on September 15, 2021.
  • The offering represents an increase of 1 million shares from the previously announced offering size of 3 million shares.
  • The selling stockholder has granted the underwriters a 30-day option to purchase up to 0.60 million additional shares.
  • Callaway will not receive any of the proceeds from the sale of shares.
  • The offering is expected to close on September 20, 2021.
  • Price Action: ELY shares closed higher by 11.12% at $30.09 on Wednesday.

Posted In: BriefsNewsOfferings