Vince McMahon is on the verge of ending his association with both TKO and WWE. Recently, TKO released a new SEC filing indicating that McMahon has put up 8,258,887 shares for sale, which are his final shares in the company. It is important to note that these shares are currently listed for sale and have not been sold yet.
The prospectus released by TKO mentions that the selling stockholders, including McMahon, are offering up to 8,258,887 shares of Class A common stock for resale. This move comes after the business combination of WWE, TKO Operating Company, LLC (TKO OpCo), and Endeavor Group Holdings, Inc. was finalized on September 12, 2023. The transaction agreement involved various entities, including WWE, TKO OpCo, TKO Group Holdings, and Endeavor.
The registration of the offer and sale of shares covered in the prospectus is being done in accordance with the stockholders’ registration rights under an agreement between the parties. The selling stockholders have the option to publicly offer, sell, or distribute their shares at prevailing or negotiated market prices. It is important to note that TKO and WWE will not receive any proceeds from the sale of shares by the selling stockholders. All costs related to the registration of these shares will be borne by TKO and WWE, while commissions and discounts related to the sale will be the responsibility of the selling stockholders.
Apart from his business dealings, McMahon is also facing a legal battle with Janel Grant, a former WWE employee. Grant has accused McMahon of sexual assault and trafficking during her time at WWE.
This recent development marks a significant turning point for McMahon’s involvement with TKO and WWE. Fans and investors alike will be closely watching how these events unfold in the coming days.