CARLSBAD, Calif., Sept. 15, 2021 /PRNewswire/ -- Callaway Golf
Company (the "Company" or "Callaway") (NYSE: ELY) announced today
the commencement of a proposed underwritten public offering of
3,000,000 shares of its common stock being offered for sale by PEP
TG Investments LP. In addition, PEP TG Investments LP expects to
grant the underwriters a 30-day option to purchase up to 450,000
additional shares of common stock at the public offering price,
less underwriting discounts and commissions. Callaway is not
selling any of its shares in the offering and will not receive any
of the proceeds from the sale of shares in the offering by PEP TG
Investments LP. The proposed offering is subject to market and
other conditions, and there can be no assurance as to whether or
when the offering may be completed, or as to the actual size or
terms of the offering.
Goldman Sachs & Co. LLC, BofA Securities and J.P. Morgan are
acting as joint book-running managers and MUFG is acting as
co-manager of the offering.
The public offering is being made pursuant to an automatic shelf
registration statement on Form S-3 that was filed by Callaway with
the U.S. Securities and Exchange Commission (the "SEC") and
automatically became effective upon filing. A preliminary
prospectus supplement and accompanying prospectus relating to and
describing the terms of the offering will be filed with the SEC and
will be available on the SEC's website at www.sec.gov. When
available, copies of the preliminary prospectus supplement and
accompanying prospectus may be obtained by contacting: Goldman
Sachs & Co. LLC, Attention: Prospectus Department, 200 West
Street, New York, New York 10282,
by phone at (866) 471–2526 or by email at
prospectus-ny@ny.email.gs.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Callaway Golf Company
Callaway Golf Company (NYSE: ELY) is an unrivaled tech-enabled
golf company delivering leading golf equipment, apparel and
entertainment, with a portfolio of global brands including Callaway
Golf, Topgolf, Odyssey, OGIO, TravisMathew and Jack Wolfskin.
Through an unwavering commitment to innovation, Callaway
manufactures and sells premium golf clubs, golf balls, golf and
lifestyle bags, golf and lifestyle apparel and other accessories,
and provides world-class golf entertainment experiences through
Topgolf, its wholly-owned subsidiary.
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements reflect Callaway's current
intentions, expectations or beliefs regarding the proposed common
stock offering. These statements may be preceded by, followed by or
include the words "aim," "anticipate," "believe," "estimate,"
"expect," "forecast," "intend," "likely," "outlook," "plan,"
"potential," "project," "projection," "seek," "can," "could,"
"may," "should," "would," "will," the negatives thereof and other
words and terms of similar meaning. Forward-looking statements
include all statements that are not historical facts, including
statements relating to the offering, including the timing and size
of the offering and the grant of the option to purchase additional
shares. These statements are based upon current information and
expectations. Accurately estimating the forward-looking statements
is based upon various risks and unknowns, including market
conditions, the trading price and volatility of Callaway's common
stock and the risks and uncertainties relating to Callaway's
business, including those related to the duration and ongoing
impact of the COVID-19 pandemic, and the other risks and
uncertainties described in Callaway's Annual Report on Form 10-K
for the year ended December 31, 2020,
and Forms 10-Q and 8-K subsequently filed with the Securities and
Exchange Commission. Accordingly, there are or will be important
factors that could cause actual outcomes or results to differ
materially from those indicated in these statements. There is no
assurance that any forward-looking statements will materialize. You
are cautioned not to place undue reliance on forward-looking
statements, which reflect expectations only as of this date.
Callaway does not undertake any obligation to publicly update or
review any forward-looking statement, whether as a result of new
information, future developments, or otherwise.
Investor Contacts
Brian
Lynch
Lauren Scott
(760) 931-1771
invrelations@callawaygolf.com
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SOURCE Callaway Golf Company