v3.24.1.u1
SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2024
SUBSEQUENT EVENTS [Abstract]  
SUBSEQUENT EVENTS 19. SUBSEQUENT EVENTS

Stock Purchase Agreement

On April 4, 2024, WME IMG, LLC (“WME IMG”), an indirect subsidiary of Endeavor entered into a stock purchase agreement with Mr. McMahon, pursuant to which WME IMG agreed to purchase 1,642,970 shares of TKO Class A common stock held by Mr. McMahon at a per share price of $89.01 for an aggregate amount of $146.2 million (the “Endeavor Share Purchase”). The Endeavor Share Purchase closed on April 9, 2024.

On April 7, 2024, TKO entered into a stock purchase agreement with Mr. McMahon, pursuant to which TKO agreed to purchase 1,853,724 shares of TKO Class A common stock held by Mr. McMahon at a per share price of $89.01 for an aggregate amount of $165.0 million (the “TKO Share Purchase”). The TKO Share Purchase closed on April 10, 2024, and the Company retired the shares of TKO Class A common stock purchased in the TKO Share Purchase. The Company funded the TKO Share Repurchase with approximately $150.0 million of borrowings under the Revolving Credit Facility and with cash on hand.

Following the transactions, Endeavor owns approximately 53.6% and TKO owns approximately 46.4% of TKO OpCo.

Amendment to the Credit Agreement

On May 1, 2024, the Company entered into an amendment to the Credit Agreement, which extended the Revolving Credit Facility’s maturity by twelve months to October 29, 2025.