**Acushnet Holdings Corp. Enters Agreement for Share Repurchase**

Acushnet Holdings Corp. (NYSE:GOLF) has disclosed in an 8-K filing with the Securities and Exchange Commission that on December 17, 2024, it entered into an agreement with Magnus Holdings Co., Ltd. The agreement pertains to the company’s existing $1.0 billion share repurchase authorization, wherein Acushnet will acquire up to $62.5 million of its common stock from Magnus.

As part of the deal, Acushnet will purchase these shares from Magnus on a share-for-share basis while executing share repurchases through open market transactions or privately negotiated dealings. The price to be paid for these shares will be based on the average price of the shares bought during these transactions over specific periods. These periods will be determined from the first purchase to the initial “determination date” and subsequently from one determination date to the next.

The determination date is set to commence on January 2, 2025, marking the occasion when the company acquires $62.5 million of shares, or at any other agreed-upon date between both parties. If the mentioned purchase target is not met by a specific date, set as June 30, 2025, the determination date will default to that deadline. The agreement is conditional on no adverse material events affecting the company’s business or financial status post the agreement date.

For deeper insights into Magnus’ association with Acushnet, additional details can be found in Acushnet’s Definitive Proxy Statement filed on April 19, 2024.

The filed 8-K also includes the stock repurchase agreement signed on December 17, 2024, as Exhibit 10.1, which provides further specifics about the terms and conditions of the agreement. Additionally, the filing includes the Cover Page Interactive Data File.

The report was signed by Sean Sullivan, the Executive Vice President and Chief Financial Officer of Acushnet Holdings Corp., on December 17, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Acushnet’s 8K filing here.

About Acushnet

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.