Callaway Golf Prices Upsized Equity Offering By Selling Shareholder At Discount

by Shivani Kumaresan, Benzinga Staff Writer

September 16, 2021 7:51 AM | 1 min read | Make a Comment

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.

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