Acushnet Holdings Corp. Files 8-K with Material Agreement
Ticker: GOLF · Form: 8-K · Filed: Mar 14, 2024 · CIK: 1672013
| Field | Detail |
|---|---|
| Company | Acushnet Holdings CORP. (GOLF) |
| Form Type | 8-K |
| Filed Date | Mar 14, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $1.0 billion, $37.5 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, filing, corporate-action
Related Tickers: GOLF
TL;DR
Acushnet (GOLF) filed an 8-K on 3/14, looks like a material agreement is in play.
AI Summary
On March 14, 2024, Acushnet Holdings Corp. filed an 8-K report. The filing indicates an entry into a material definitive agreement and includes financial statements and exhibits. The company is incorporated in Delaware and headquartered in Fairhaven, Massachusetts.
Why It Matters
This filing signals a significant contractual development for Acushnet Holdings Corp., potentially impacting its financial performance and strategic direction.
Risk Assessment
Risk Level: low — The filing is a standard 8-K report for a material definitive agreement and does not inherently indicate new risks.
Key Numbers
- 001-37935 — SEC File Number (Identifies the company's filing history with the SEC.)
- 455644353 — IRS Number (Company's Employer Identification Number.)
Key Players & Entities
- Acushnet Holdings Corp. (company) — Registrant
- March 14, 2024 (date) — Date of Report
- Delaware (jurisdiction) — State of Incorporation
- Fairhaven, Massachusetts (location) — Principal executive offices
FAQ
What is the nature of the material definitive agreement entered into by Acushnet Holdings Corp. on March 14, 2024?
The filing indicates an 'Entry into a Material Definitive Agreement' as an item information, but the specific details of the agreement are not provided in this excerpt.
What are the primary business activities of Acushnet Holdings Corp. based on the SIC code?
The Standard Industrial Classification (SIC) code is [3949], which relates to 'Manufacturing', specifically within the broader category of sporting and athletic goods.
Where are Acushnet Holdings Corp.'s principal executive offices located?
The principal executive offices are located at 333 Bridge Street, Fairhaven, Massachusetts 02719.
What is the filing date of this 8-K report?
The filing date, and the date of the earliest event reported, is March 14, 2024.
What is the company's fiscal year end?
The company's fiscal year ends on December 31.
Filing Stats: 716 words · 3 min read · ~2 pages · Grade level 11.2 · Accepted 2024-03-14 16:06:01
Key Financial Figures
- $0.001 — nge on which registered Common Stock - $0.001 par value per share GOLF New York Stock
- $1.0 billion — , 2024, in connection with its existing $1.0 billion share repurchase authorization, Acushne
- $37.5 million — any will purchase up to an aggregate of $37.5 million of shares of its common stock from Magn
Filing Documents
- golf-20240314.htm (8-K) — 30KB
- ex101-stockrepurchaseagree.htm (EX-10.1) — 49KB
- 0001672013-24-000010.txt ( ) — 211KB
- golf-20240314.xsd (EX-101.SCH) — 2KB
- golf-20240314_lab.xml (EX-101.LAB) — 21KB
- golf-20240314_pre.xml (EX-101.PRE) — 12KB
- golf-20240314_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On March 14, 2024, in connection with its existing $1.0 billion share repurchase authorization, Acushnet Holdings Corp. (the "Company") entered into an agreement with Magnus Holdings Co., Ltd. ("Magnus") pursuant to which the Company will purchase up to an aggregate of $37.5 million of shares of its common stock from Magnus on a share-for-share basis as the Company repurchases shares in the open market or privately negotiated transactions. The price payable to Magnus for the Company's shares will be the average price of the shares purchased in the open market or privately negotiated transactions over the period of time from April 1, 2024 (in the case of the first such pricing period) to the first "determination date" and, in the case of any subsequent such pricing period, from the most recent preceding determination date to the next determination date. The "determination date" will be (i) commencing April 1, 2024, the date on which the Company purchases an aggregate of $37.5 million of shares, (ii) any date otherwise mutually agreed between the Company and Magnus, and (iii) June 28, 2024, if the Company has not already purchased the $37.5 million shares of common stock. The obligations of the Company to purchase the shares and Magnus to sell the shares following each determination date are conditioned upon no event occurring since the date of the agreement that, either individually or in the aggregate, has had a material adverse effect on the business or financial condition of the Company as of each closing. The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the copy of the agreement filed as Exhibit 10.1 to this Current Report on Form 8-K. For more information on Magnus' relationship to the Company, please refer to the Company's Definitive Proxy Statement filed on April 21, 2023.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Stock Repurchase Agreement, dated March 14 , 2024, by and between Acushnet Holdings Corp. and Magnus Holdings Co., Ltd. 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ACUSHNET HOLDINGS CORP. By: /s/ Sean Sullivan Name: Sean Sullivan Title: Executive Vice President, Chief Financial Officer Date: March 14, 2024