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Big 5 Sporting Goods Corp. (NASDAQ:BGFV), currently valued at $32 million in market capitalization, announced Monday that its shareholders approved all proposals related to its planned merger with Worldwide Sports Group Holdings LLC during a special meeting held Friday. According to InvestingPro data, the company has been facing financial challenges, operating with a significant debt burden of $348.88 million.
According to a press release statement based on the company’s SEC filing, shareholders voted on three proposals. The primary proposal, concerning the Agreement and Plan of Merger dated June 29, 2025, was approved. Under this agreement, WSG Merger LLC, a wholly owned subsidiary of Worldwide Sports Group Holdings, will merge with and into Big 5 Sporting Goods, resulting in Big 5 becoming a wholly owned subsidiary of Worldwide Sports Group Holdings.
Out of 22,918,921 shares of Big 5 common stock entitled to vote, 14,285,424 shares, representing approximately 62.33%, were present or represented by proxy, constituting a quorum. The merger proposal received 12,160,662 votes in favor, 1,965,126 against, and 159,636 abstentions.
Shareholders also approved, on a non-binding advisory basis, certain compensation arrangements for named executive officers in connection with the merger. This proposal received 9,128,179 votes in favor, 4,834,765 against, and 322,480 abstentions.
A third proposal to adjourn the meeting, if necessary to solicit additional proxies, was not required as sufficient votes were present.
Big 5 Sporting Goods is based in El Segundo, California, and its common stock is listed on The Nasdaq Stock Market LLC under the symbol BGFV. The company’s filing did not provide additional details about the expected timeline for the completion of the merger.
All information in this article is based on a press release statement and the company’s SEC filing.
In other recent news, Big 5 Sporting Goods Corporation has announced a definitive merger agreement to be acquired by a partnership between Worldwide Golf and Capitol Hill Group. The all-cash transaction is valued at approximately $112.7 million in enterprise value. Under the terms of the agreement, Big 5 stockholders will receive $1.45 per share in cash. This represents a 36% premium to the company’s 60-day volume-weighted average price. The transaction also includes the assumption of approximately $71.4 million in credit line borrowings as of June 29, 2025. These developments highlight significant changes for Big 5 Sporting Goods as it transitions under new ownership.
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