Callaway Golf Company Announces Plans for New Corporate Name: Topgolf Callaway Brands Corp.
The company will change ticker to MODG, reflecting its leadership in the much larger,
a more dynamic and inclusive modern golf ecosystem
CARLSBAD, Calif. , August 24, 2022 /PRNewswire/ — Callaway Golf Company (NYSE: ELY) (the “Company”) today announced that it intends to change its corporate name to Topgolf Callaway Brands Corp. (“Topgolf Callaway Brands”). Following the company’s merger with Topgolf in 2021, the name change reflects the company’s dynamic brand portfolio which has unparalleled scale and reach across the modern golf and active lifestyle ecosystem. , including golf on and off course.
“We are delighted to introduce Topgolf Callaway Brands, which further recognizes our long-term strategic path, while highlighting our unique and dominant leadership in the modern golf space,” commented Chip brewer, President and Chief Executive Officer of the Company. “With this change, our new corporate identity will reinforce the opportunities that are rooted in our strong heritage business and, at the same time, raise awareness of our strategic shift into exciting new businesses in the modern golf and active lifestyle segments. .”
Mr. Brewer continued, “We believe Topgolf Callaway Brands simultaneously communicates robust growth and change, as well as stability and strength.
The Company expects the name change to become effective on or about September 62022. As part of the change, effective on or about September 7, 2022the company also intends to change its ticker symbol on the New York Stock Exchange from “ELY” to “MODG” to reflect the company’s leadership position in the modern golf ecosystem.
Following the name change, each of the Company’s brands will retain its unique identity and marketing strategies. Topgolf Callaway Brands will continue to be led by the current Callaway Golf Company management team.
About Callaway Golf Company (future Topgolf Callaway Brands Corp.)
Callaway Golf Company, changing its name to Topgolf Callaway Brands Corp., is an unrivaled modern golf and active lifestyle company, providing leading golf equipment, apparel and entertainment, with a portfolio of brands such as Topgolf, Callaway Golf, TravisMathew, Toptracer, Odyssey, OGIO, Jack Wolfskin and World Golf Tour (“WGT”). “Modern golf” is the vibrant and inclusive ecosystem that includes both on- and off-course golf. For more information, visit www.ir.callawaygolf.com.
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements include the company’s expectations regarding the effective date of the name change; the Company’s intention that its common stock will continue to be listed on the New York Stock Exchange under the new symbol “MODG” beginning on or about September 7, 2022, and other statements regarding the Company’s “expectations”, “beliefs”, “hopes”, “intentions”, “strategies”, 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 to be materially different 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 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.
SOURCECallaway Golf Company