Vince McMahon Files To Sell 8.4 Million Shares Of TKO Group: What's Going On?

TKO Group Holdings Inc TKO shares are trading lower by 8.2% to $77.81 Friday morning after the company announced the pricing of a secondary offering by a selling stockholder.

What Happened?

The company has announced the pricing of a previously disclosed public offering by its stockholder, Vincent K. McMahon, involving 8.4 million shares of the company's Class A Common Stock at $79.80 per share.

TKO has also agreed to repurchase around $100 million of these shares from the underwriter at the same per-share purchase price. The net proceeds from the offering will go to the Selling Stockholder, McMahon.

Notably, TKO's CEO and other directors participated in the offering by purchasing shares at the public offering price.

Morgan Stanley & Co. LLC is the book-running manager, and MUFG Securities Americas Inc. is the co-manager for the offering.

See Also: What's Going On With FuelCell Energy Stock?

According to data from Benzinga Pro, TKO has a 52-week high of $106.16 and a 52-week low of $76.31.

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