Callaway Golf (ELY) Prices Upsized 4M Offering by Selling Stockholder $29.25/sh

September 16, 2021 5:40 AM EDT

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

Callaway Golf Company (NYSE: ELY) announced today the pricing of an underwritten public offering of 4,000,000 shares of its common stock at a public offering price of $29.25 per share, before deducting underwriting discounts and commissions, all of which are being sold by PEP TG Investments LP. This represents an increase of 1,000,000 shares from the previously announced offering size of 3,000,000 shares of common stock. In addition, PEP TG Investments LP has granted the underwriters a 30-day option to purchase up to 600,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions. Callaway is not selling any of its shares in the offering and will not receive any of the proceeds from the sale of shares in the offering by PEP TG Investments LP. The offering is expected to close on September 20, 2021, subject to the satisfaction of customary closing conditions.

Goldman Sachs & Co. LLC, BofA Securities and J.P. Morgan are acting as joint book-running managers and MUFG is acting as co-manager of the offering.

The public offering is being made pursuant to an automatic shelf registration statement on Form S-3 that was filed by Callaway with the U.S. Securities and Exchange Commission (the "SEC") and automatically became effective upon filing. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering have been filed with the SEC and are available on the SEC's website at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus, when available, may be obtained by contacting: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by phone at (866) 471–2526 or by email at prospectus-ny@ny.email.gs.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Corporate News, Equity Offerings

Related Entities

JPMorgan, Goldman Sachs, S3, Equity Offerings