Vince McMahon, the former WWE Chairman, has made yet another significant sale, unloading a large portion of his TKO shares. Last week, it was reported that McMahon was looking to sell off his shares, and this week it has been confirmed that he sold 8.4 million shares at a price of $76.41 per share.
This news was announced through a Changes in Beneficial Ownership filing. The filing provides an explanation of the responses to this sale:
- Pursuant to an underwriting agreement, dated November 9, 2023, McMahon sold 8,400,000 shares of TKO’s Class A common stock in an underwritten secondary public offering. The offering closed on November 14, 2023, with the shares being sold at a public offering price of $79.80 per share. McMahon paid an underwriting discount and commission of $3.39 per share, resulting in a net price of $76.41 per share.
- The sale also includes 83,102 restricted stock units (“TKO RSUs”). Each TKO RSU represents a contingent right to receive one share of TKO’s Class A common stock.
- It’s important to note that the sale excludes 100 shares of TKO’s Class A common stock owned individually by McMahon’s wife, Linda McMahon. Vince McMahon disclaims beneficial ownership of those shares.
This sale marks another significant move by Vince McMahon, who has been actively involved in the world of professional wrestling for decades. McMahon’s decision to sell off a large portion of his TKO shares raises questions about his future plans and potential investments.
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