Madison Square Garden Entertainment (MSGE) disclosed:
The selling stockholder, Sphere Entertainment Group, LLC (the “selling stockholder”), is selling 5,250,000 shares of Class A common stock, par value $0.01 per share (“Class A common stock”), of Madison Square Garden Entertainment Corp., as well as the shares we will repurchase pursuant to the share purchase agreement described in the following paragraph. We are not selling any shares of Class A common stock under this prospectus and will not receive any of the proceeds from the sale of the shares by the selling stockholder.
We expect to enter into a share purchase agreement with the selling stockholder in this offering to repurchase from the selling stockholder in a private transaction a number of shares of our Class A common stock equal to $25 million at the price at which the shares are sold to the public in this offering less the underwriting discounts set forth on the cover page of this prospectus. Based on an assumed purchase price calculated using $39.02, the last reported sale price of our Class A common stock on June 16, 2023, the number of shares to be repurchased would be 640,697 shares. The completion of the share repurchase is contingent on the satisfaction of customary closing conditions and conditioned upon the completion of this offering. The completion of this offering is not conditioned upon the completion of the share repurchase. We cannot assure you that this offering or the share repurchase will be consummated.
Our Class A common stock trades on The New York Stock Exchange under the symbol “MSGE.” On June 16, 2023, the last sale price of our Class A common stock as reported on The New York Stock Exchange was $39.02 per share.