Finance History | 11 Wall Street — WWE Stopped and a Combined Book Opened at One Hundred Two Called TKO
· 2023-9
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Finance History | 11 Wall Street — WWE Stopped and a Combined Book Opened at One Hundred Two Called TKO
kevin
People treat TKO Group Holdings as a combat-sports house that always printed TKO after a finished New York book.
The letters arrived as a close.
An Endeavor and WWE release dated 7 September 2023 records that the two firms expected to close the transaction forming TKO Group Holdings on 12 September 2023, and that TKO would begin trading on the New York Stock Exchange under TKO.
Associated Press coverage of that open records that TKO shares opened at 102 dollars in 2023 currency on 12 September 2023.
Variety, reporting the same session, records that TKO closed at 103.05 dollars after opening at 102 dollars, and that WWE shares ceased trading after a final close of 100.65 dollars on 11 September 2023.
Holders of WWE common received TKO common on the cutover. Endeavor held a 51 percent controlling interest. Existing WWE holders held 49 percent on a fully diluted basis.
The deal combined WWE with UFC, which Endeavor contributed into the new listed vehicle.
The mechanism of 12 September 2023 is a merger close that retired one New York symbol and opened another at a price inherited from the retired book, not a cash IPO of new shares sold by the issuer that morning.
The pin is the Broad Street facade of the Exchange, where TKO first printed.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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