TKO staggers as Vince McMahon's share sale prices

Endeavor group

10/11/2023 12:59

** Shares of TKO Group  TKO.N , newly-formed firm through
combination of Ultimate Fighting Championship (UFC) and World
Wrestling Entertainment (WWE), down 7.2% at $78.75 premarket as
secondary offering prices
    ** TKO announces 8.4 mln shares sold by Vince McMahon at
$79.80, 6% discount to last sale on Thurs
    ** Additionally, TKO to repurchase approx $100 mln of shares
(1.25 mln) from underwriter Morgan Stanley
    ** TKO execs led by CEO Ariel Emanuel bought about $2.9 mln
worth of offering shares
    ** Transaction cuts McMahon's stake from 34.5% to about 25%,
or ~20.3 mln shares
    ** Endeavor Group  EDR.N  owned 51% stake in TKO after
merger closed in Sept, while WWE investors owned the rest
    ** TKO's stock closed at $99.25 on its first day of trading
(Sept 12) as a new co

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))