Callaway Golf said it is planning to offer $200 million in convertible senior notes that mature in 2026.
The golf clubs manufacturer is planning to reduce the potential dilution of issuing new shares by entering capped call transactions with one or more dealers. The capped call transactions are expected to cover the number of shares of Callaway’s common stock underlying the notes. Proceeds of the offer will be used to pay the cost of the capped call transactions and for general corporate purposes.
Photo courtesy Callaway Golf
