In a notable financial transaction, Vince McMahon is parting ways with a significant portion of his TKO stock. A Securities and Exchange Commission (SEC) filing has disclosed the details of the sale.
Documents released on a recent Monday demonstrate that McMahon is offloading 5,350,000 shares of his holding in TKO. The transaction is valued at $411,950,000.00, based on the prevailing stock prices at the time of sale.
Morgan Stanley is managing the sale process, which, upon completion, will result in Vince McMahon retaining an ownership of approximately 15 million shares of TKO.
This selling move occurs following a lawsuit filed over a month ago by Janel Grant. The lawsuit alleges that Vince McMahon and John Laurinaitis committed multiple serious offenses, including sexual assault and sex trafficking. Despite a spokesperson for McMahon dismissing the suit as baseless, McMahon resigned from his positions at WWE and TKO.
It has also been reported by the Wall Street Journal that federal investigations are underway in relation to the allegations leveled against Vince McMahon in Grant’s lawsuit.
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FAQs About Vince McMahon’s Stock Sale
- How much is Vince McMahon’s stock sale worth?
The sale of 5.3 million TKO shares by Vince McMahon is valued at $411,950,000.00. - Who is handling the sale of McMahon’s TKO stock?
Morgan Stanley is the broker managing Vince McMahon’s TKO stock sale. - What will Vince McMahon’s remaining shareholding be after the sale?
Post-sale, Vince McMahon will hold approximately 15 million shares of TKO. - Why is Vince McMahon selling his TKO stock?
The precise reasons for the sale are not specified, but it comes after a lawsuit was filed against him, and amid reports of federal investigations. - Has Vince McMahon commented on the allegations made in the lawsuit?
Through a spokesperson, McMahon has denied the allegations, claiming the lawsuit is full of falsities.
Conclusion
The sale of a substantial number of shares by Vince McMahon marks a significant financial decision amidst personal and legal challenges. With federal investigations ongoing and his resignation from WWE and TKO, much remains uncertain about McMahon’s future endeavors and the implications for TKO. Stakeholders and fans alike will be closely watching how this situation develops.