Acushnet Holdings Corp. Files 8-K for Material Agreement

TL;DR

Acushnet just signed a big deal, details TBD.

AI Summary

Acushnet Holdings Corp. filed an 8-K on June 14, 2024, reporting an entry into a material definitive agreement. The filing does not provide specific details about the agreement, its terms, or any associated financial figures within the provided text.

Why It Matters

This filing indicates a significant new contract or partnership for Acushnet Holdings Corp., which could impact its future business operations and financial performance.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement, which inherently carries business risks, but the lack of specific details prevents a precise risk assessment.

Key Players & Entities

• Acushnet Holdings Corp. (company) — Registrant
• June 14, 2024 (date) — Date of Report
• Delaware (jurisdiction) — State of Incorporation
• 001-37935 (identifier) — SEC File Number
• 455644353 (identifier) — IRS Employer Identification No.
• 333 Bridge Street Fairhaven, Massachusetts 02719 (address) — Principal executive offices
• 800-225-8500 (phone_number) — Registrant's Telephone Number

FAQ

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
• $62.5 million — any will purchase up to an aggregate of $62.5 million of shares of its common stock from Magn

Filing Documents

• golf-20240614.htm (8-K) — 29KB
• ex101-stockrepurchaseagree.htm (EX-10.1) — 49KB
• 0001672013-24-000036.txt ( ) — 212KB
• golf-20240614.xsd (EX-101.SCH) — 2KB
• golf-20240614_lab.xml (EX-101.LAB) — 21KB
• golf-20240614_pre.xml (EX-101.PRE) — 12KB
• golf-20240614_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On June 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 $62.5 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 July 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 July 1, 2024, the date on which the Company purchases an aggregate of $62.5 million of shares, (ii) any date otherwise mutually agreed between the Company and Magnus, and (iii) December 31, 2024, if the Company has not already purchased the $62.5 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 19, 2024.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Stock Repurchase Agreement, dated June 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: June 14, 2024

View Full Filing

View this 8-K filing on SEC EDGAR