Vince McMahon sold more than $300 Million of stock to Endeavor & TKO in todays Wrestling news
The former TKO Chairman may not have to report publicly his stock sales.
Vince McMahon continues to sell his TKO stock, a theme that is becoming more and more common. This round has gained some extra significance in public reporting.
In a filing to the SEC on Monday morning, it was revealed, that the former TKO/WWE Chairman had committed to sell over 1.64 millions shares to TKO parent Endeavor for $146.22 million and over 1,85 million shares for $165.25 million. Both figures are based on an $89.01 share price.
The Endeavor purchase, which was agreed upon last Thursday and is expected to be completed this Tuesday, while the TKO acquisition is expected to be completed this Wednesday.
McMahon’s ownership of TKO will be 4.7% after the anticipated sales. According to Brandon Thurston from Wrestlenomics, McMahon owns just over eight millions total TKO shares. This is noteworthy because once a stockholder has less than five percent ownership in a publicly traded firm, they are no longer required to file beneficial owner reports.
McMahon is conducting its fourth and fifth TKO stock sales since November:
- In November, McMahon sold approximately 30% of his stock (8.4 million shares) for nearly $700 million.
- The second came in March with McMahon selling 25% of his remaining stock for $408 million.
- The third also came in March with McMahon selling nearly 3.5 million shares for $100 million to Morgan Stanley to complete a margin loan transaction he took in March 2020.
McMahon’s sales have totaled more than $1.5 billion.
The 78-year old resigned from his position as executive chairman of TKO in January this year after being accused by a former WWE employee Janel grant of sex abuse and sex trading.
Vince McMahon sold more than $300 Million of stock to Endeavor & TKO in todays Wrestling news, Chatalong Chatbox, Results will be Hidden inside a spoiler Button so you will not bet spoiled about direct results.
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