Callaway Golf Company announced the commencement of a proposed underwritten public offering of three million shares of its common stock offered for sale by PEP TG Investments LP.
PEP TG Investments LP will also grant the underwriters a 30-day option to purchase up to 450,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions.
Callaway is not selling shares in the offering and will not receive proceeds from the sale in the offering by PEP TG Investments LP.
The proposed offering is subject to market and other conditions and there is no assurance as to whether or when the offering will be completed, the actual size or terms of the offering.
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.
Photo courtesy Callaway Golf Company
