Callaway Golf Company Announcement – GuruFocus.com

CARLSBAD, Calif., May 26, 2022 /PRNewswire/ — Callaway Golf Company (NYSE: ELY) (the “Company”) announced today that the Board of Directors has authorized the Company to repurchase up to $100 million of common stock from the Company on the open market or through private transactions. The Company will from time to time assess market conditions, buying opportunities and other factors and make strategic buyouts as appropriate. Redemptions will be made in accordance with Rule 10b-18 of the Securities Exchange Act of 1934, subject to market conditions, applicable legal requirements and other factors, and redemptions will be made in accordance with the terms of the credit facilities of the Company, which define the amount of shares that can be redeemed. The buyback program does not require the Company to acquire a specific number of shares and will remain in effect until completed or until terminated by the Board of Directors.

Forward-looking statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements include the company’s intention to purchase common stock under a stock repurchase program, the anticipated timing, amount and impact of the share buyback program on the Company’s financial statements and other statements regarding “expectations”, “beliefs”, “hopes”, “intentions”, the “strategies” of the Company, etc. These statements are based on current information and expectations and involve unknown risks, uncertainties, assumptions and other factors, many of which are beyond the Company’s control and difficult to predict, which could cause actual results differ materially from forward-looking statements. For additional information regarding these and other risks and uncertainties that could affect these statements and the Company’s business, see the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as well as other risks and uncertainties detailed from time to time. times in the Company’s reports on Forms 10-K, 10-Q and 8-K subsequently filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to reissue any revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events.

About Callaway Golf Company

Callaway Golf Company (NYSE: ELY) is an unparalleled modern golf and active lifestyle company, providing leading golf equipment, apparel and entertainment, with a portfolio of global brands including Callaway Golf, Topgolf , Odyssey, OGIO, TravisMathew and Jack Wolfskin. Through an unwavering commitment to innovation, Callaway manufactures and sells premium golf clubs, golf balls, golf and lifestyle bags, golf and lifestyle apparel and more. accessories, and provides world-class golf entertainment experiences through Topgolf, its wholly-owned subsidiary. For more information, please visit www.callawaygolf.com, www.topgolf.com, www.odysseygolf.com, www.ogio.com, www.travismathew.comand www.jack-wolfskin.com.

contacts:

Brian Lynch

Patrick Burk

(760) 931-1771

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SOURCECallaway Golf Company

Michael C. Ford