Vince McMahon has officially sold his shares.
On November 9, it was announced that Vince McMahon was looking to sell 8.4 million of his TKO shares.
On November 14, a new Changes in Beneficial Ownership filing indicated that McMahon sold his 8.4 million shares at the price of $76.41 per share. The net proceeds comes out to $641,844,000.
McMahon still holds 20,435,207 shares, which is roughly 12% of the company.
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.
On November 7, McMahon's participation in the TKO board was listed as a risk factor. Fans can learn more by clicking here.
Fightful will update fans on McMahon's status with TKO as more is known.
