World Wrestling Entertainment Inc. announced Monday agreements with certain investors to exchange 6.9 million newly issued shares of common stock and $3.9...
World Wrestling Entertainment Inc. WWE announced Monday agreements with certain investors to exchange 6.9 million newly issued shares of common stock and $3.9 million in cash for $171.0 million principal amount of 3.375% convertible debt due this year. The media and entertainment company’s stock was still untraded in the premarket. Based on Friday’s closing price of $105.17, the share issuance would be valued at $725.7 million, or 9.3% of the WWE’s market capitalization of $7.83 billion.
WWE announced Monday agreements with certain investors to exchange 6.9 million newly issued shares of common stock and $3.9 million in cash for $171.0 million principal amount of 3.375% convertible debt due this year. The media and entertainment company’s stock was still untraded in the premarket. Based on Friday’s closing price of $105.17, the share issuance would be valued at $725.7 million, or 9.3% of the WWE’s market capitalization of $7.83 billion.
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