{"id":25520,"date":"2023-06-21T12:19:44","date_gmt":"2023-06-21T16:19:44","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/madison-square-garden-says-sphere-entertainment-is-selling-5-25-million-shares\/"},"modified":"2023-06-21T12:19:45","modified_gmt":"2023-06-21T16:19:45","slug":"madison-square-garden-says-sphere-entertainment-is-selling-5-25-million-shares","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=25520","title":{"rendered":"Madison Square Garden says Sphere Entertainment is selling 5.25 million shares"},"content":{"rendered":"
\n

Live entertainment provider Sphere Entertainment Co.
\n SPHR,
\n -2.83%<\/bg-quote>
\n will sell 5.25 million shares of Madison Square Garden Entertainment Corp.
\n MSGE,
\n -11.35%<\/bg-quote>,<\/span>
\n Madison Square Garden said on Tuesday. Sphere, which MSG spun off last month, also plans to grant the underwriters a 30-day option to buy up to an extra 787,500 shares of MSG Entertainment. MSG Entertainment will also buy back from Sphere roughly $25 million of its own shares, as part of a $250 million buyback authorization. The repurchase is expected to happen concurrently with the closing of the offering. BofA Securities, Goldman Sachs and J.P. Morgan are acting as joint book-running managers for the offering. Shares of MSG fell 5.2% after hours. Shares of Sphere were unchanged. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Live entertainment provider Sphere Entertainment Co. SPHR, -2.83% will sell 5.25 million shares of Madison Square Garden Entertainment Corp. MSGE, -11.35%, Madison Square Garden said on Tuesday. Sphere, which MSG spun off last month, also plans to grant the underwriters a 30-day option to buy up to an extra 787,500 shares of MSG Entertainment. MSG […]<\/p>\n","protected":false},"author":1,"featured_media":1383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-25520","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nMadison Square Garden says Sphere Entertainment is selling 5.25 million shares | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Live entertainment provider Sphere Entertainment Co. 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