| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Topgolf Callaway Brands Corp. (NYSE:MODG) shares traded lower premarket on Tuesday after the company finalized a definitive agreement to sell a 60% stake in its Topgolf and Toptracer business to private equity funds managed by Leonard Green & Partners, L.P.
The transaction values Topgolf at around $1.1 billion, and Topgolf Callaway Brands expects to receive roughly $770 million in net proceeds (subject to adjustments).
The transaction, which has received unanimous approval from Topgolf Callaway Brands’ Board of Directors, is projected to close in the first quarter of 2026.
Following the closing, the company plans to revert its name to Callaway Golf Company and change its NYSE ticker symbol to CALY. Its common stock will continue to trade on the New York Stock Exchange.
Crucially, this sale aligns with Topgolf Callaway Brands’ strategy to concentrate on its core Golf Equipment & Active Lifestyle platform.
Post-transaction, the streamlined brand portfolio will include Callaway, Odyssey, TravisMathew, and Ogio, which collectively generated approximately $2 billion in revenue over the last twelve months (through the third quarter of 2025).
The company plans to utilize this position to reinvest, reduce debt, and provide a significant return of capital to shareholders, potentially through stock repurchases.
As of September 30, Topgolf’s cash and cash equivalents stood at $865.6 million.
Price Action: MODG shares are down 6.25% to $10.20 in premarket trading at the last check on Tuesday.
Read Next:
Photo: Shutterstock
Posted In: MODG
