TKO Group Holdings, Inc. has announced significant share repurchases totaling $1 billion, showcasing confidence in the company's value and commitment to shareholder returns.
The repurchases include an accelerated share repurchase agreement of $800 million, a 10b5-1 trading plan for up to $174 million, and a privately negotiated transaction of $26 million.
Mark Shapiro, President and COO of TKO, emphasized the importance of these repurchases in enhancing shareholder value and the company's capital return strategy.
Share Repurchase Details
Includes $800 million ASR Agreement, $174 million 10b5-1 Plan, and $26 million privately negotiated transaction.
Funding Source
Share repurchases to be funded by proceeds from $1.0 billion first lien term loan borrowing.
Management's Statement
Management expresses confidence in the stock's intrinsic value and commitment to long-term shareholder value.
- The share repurchase program reflects TKO's confidence in its financial position and growth prospects.
- The use of different repurchase methods signals strategic planning in capital deployment and maximizing shareholder value.
TKO Group Holdings' $1 billion share repurchases demonstrate a strong commitment to enhancing shareholder value and signify the company's confidence in its future prospects. The strategic use of various repurchase methods highlights TKO's proactive approach to capital management and long-term growth.