In a series of SEC filings on Thursday, TKO Group Holdings Inc., the parent company of WWE and the UFC, announced that Vince McMahon intends to offer for sale 8,400,000 of his Class A common shares of the company. McMahon will be offering the sale to the public at a price of $79.80 USD per share, for a total of $670.32 Million.
Of those, TKO is planning to purchase $100 Million worth of the shares, while Ariel Emanuel, TKO’s Chief Executive Officer and director, Mark Shapiro, TKO’s President, Chief Operating Officer and director, and certain other of TKO’s directors purchased 12,531 shares, 12,531 shares and 10,650 shares, respectively.
McMahon, the Executive Chairman of the company, will receive all of the net proceeds of the sale. After the sale, he will still own approximately 25% of the shares of the company representing approximately 12% of the voting power.