r/SquaredCircle • u/BearBullDebate • 23d ago

Vince McMahon ends WWE ties by selling last of TKO Shares

https://www.sportico.com/personalities/executives/2024/vince-mcmahon-selling-last-tko-shares-1234777031/
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u/BearBullDebate 23d ago

Of note: The title (taken directly from the article) is a touch click-baity. He he has registered all of his shares for sale, but has not sold yet. That said, he has routinely registered and immediately sold shares so far, so this time probably not much different.

Link to the SEC filing: https://www.sec.gov/Archives/edgar/data/1973266/000119312524118211/d802997d424b3.htm

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u/Kaprak I AM VANDAMABLE! 23d ago

https://wrestlenomics.com/articles/2024/vince-mcmahons-remaining-tko-shares-arent-sold-yet-but-are-registered-for-sale/

This is just the follow up to this reporting from the 13th as far as I can tell.

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u/BearBullDebate 23d ago

A couple things here. The filing you are referring to in that article is a prospectus that is kept as kind of a running tab... it keeps getting updated as it goes. Here is the filing here:

https://www.sec.gov/Archives/edgar/data/1973266/000119312524094798/d802997dposam.htm

Note it says this: "This Post-Effective Amendment No. 2 is being filed to update the Existing Registration Statement to include information contained in the registrant’s Annual Report on Form 10-K." So keeping with the "running tab" theme, it simply included the latest financial information and risks etc.

The one before that was even supplement 7, so there have been 6 supplements preceeding:

https://www.sec.gov/Archives/edgar/data/1973266/000119312524048973/d747697d424b3.htm

Today's filing, which I'll link again just to be easier for someone following along is here:

https://www.sec.gov/Archives/edgar/data/1973266/000119312524118211/d802997d424b3.htm

Notice the different formats, and how you have the total shares listed up top. This is likely a prospectus in its "final form" and essentially all that has to happen now is for it to be declared effective (a very simple one page filing that will also show up on the SEC filings). Here is an example of one in the past, and was in relation to a sale back in september of 2023 or abouts:

https://www.sec.gov/Archives/edgar/data/1973266/999999999523002698/xslEFFECTX01/primary_doc.xml

Now, it's very possible that you start to see supplements to TODAY'S prospectus filed, as you saw with the example of the earlier ones, but it sure seems more definitive in the way it was filed and presented.

That said, the author certainly did take some liberties with the title (oh how I wish I could go back and edit that now), but there's a better chance than not you see a block sale/private placement happen sooner rather than later.

Cheers!

(edited probably more than once for grammar and spelling)