Vince McMahon to Sell More Than $700 Million Worth of Stock in TKO, the Combo of WWE and UFC
variety.comTodd Spangler NY Digital Editor Vince McMahon is cashing out. McMahon, the former CEO of WWE, intends to offer 8.4 million shares of Class A common stock in TKO Group, the company formed by the merger of WWE and UFC, which was engineered by Endeavor.
Those shares are currently worth about $713 million at TKO’s most recently closing share price. McMahon “will receive all of the net proceeds from this offering,” TKO said in a filing Thursday with the SEC.
TKO said it intends to repurchase approximately $100 million of shares of its Class A common stock from the underwriters in the offering.
McMahon, who has the role of executive chairman of TKO Group, owned 16.4% of the economic interests in TKO when the deal forming the company closed in September.
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