May 21, 2004 08:21 AM US Eastern Timezone
World Wrestling Entertainment, Inc. Announces Pricing of Secondary Offering
STAMFORD, Conn.--(BUSINESS WIRE)--May 21, 2004--World Wrestling Entertainment, Inc. (NYSE:WWE) announced today the pricing of a public offering by The Vincent K. McMahon Irrevocable Trust (the "Trust") of 6,144,908 shares of Class A common stock at $11.50 per share. The Trust has granted the underwriters a 30-day option to purchase up to an additional 921,736 shares of Class A common stock from the Trust to cover over-allotments, if any.
UBS Securities LLC is acting as sole book-running manager and Natexis Bleichroeder, Inc. is acting as co-manager for the offering.
The Trust was established in June 1999 as an estate planning vehicle for the benefit of Vincent K. McMahon and members of his family and holds shares of Class B common stock, which, upon their sale, will be converted automatically into shares of Class A common stock on a one-for-one basis.
A copy of the final prospectus supplement can be obtained from UBS Securities LLC, at 299 Park Avenue, New York, NY 10171 (phone (212) 821-3000). These securities are offered only by means of a written prospectus and this is neither an offer nor a solicitation of an offer to buy.
A shelf registration statement relating to these securities was filed and has been previously declared effective by the Securities and Exchange Commission. A prospectus supplement relating to the offering will be filed by the Company with the SEC and will be available on the SEC's website at www.sec.gov.
World Wrestling Entertainment, Inc. is an integrated media and entertainment company headquartered in Stamford, Conn., with offices in New York City, Los Angeles, Toronto, and London.
Trademarks: The names of all World Wrestling Entertainment televised and live programming, talent names, images, likenesses, slogans and wrestling moves and all World Wrestling Entertainment logos are trademarks which are the exclusive property of World Wrestling Entertainment, Inc.
Forward-Looking Statements: This news release contains forward-looking statements pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995, which are subject to various risks and uncertainties. These risks and uncertainties include general market conditions, which could result in only a portion or none of the shares being registered to be offered and sold, the conditions of the markets for live events, broadcast television, cable television, pay-per-view, Internet, entertainment, professional sports, and licensed merchandise; acceptance of the Company's brands, media and merchandise within those markets; uncertainties relating to litigation; risks associated with producing live events both domestically and internationally; uncertainties associated with international markets; risks relating to maintaining and renewing key agreements, including television distribution agreements; and other risks and factors set forth from time to time in Company filings with the Securities and Exchange Commission. Actual results could differ materially from those currently expected or anticipated.
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