−Removed: Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: As of March 31, 2023, the Company has the ability to repurchase up to $250 million of the Company’s Class A Common Stock under the Class A Common Stock share repurchase program authorized by the Company’s Board of Directors on March 29, 2023.
−Removed: Under the authorization, shares of Class A Common Stock may be purchased from time to time in open market or private transactions, block trades or such other manner as the Company may determine (including through repayment by Sphere Entertainment of the DDTL Facility with shares of the Company’s Class A Common Stock) in accordance with applicable insider trading and other securities laws and regulations.
+Added: Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities
+Added: On March 29, 2023, the Company’s Board of Directors authorized a share repurchase program to repurchase up to $250 million of the Company’s Class A Common Stock (the “Stock Repurchase Program”).
+Added: Pursuant to the Stock Repurchase Program, shares of Class A Common Stock may be purchased from time to time in open market or private transactions, block trades or such other manner as the Company may determine in accordance with applicable insider trading and other securities laws and regulations.
The timing and amount of purchases will depend on market conditions and other factors.
−Removed: No shares have been repurchased to date.
+Added: For the three months ended September 30, 2023 the Company repurchased 3,525,314 shares of Class A Common Stock for approximately $115 million.
+Added: As of September 30, 2023, the Company had approximately $110 million remaining available for repurchases.
+Added: The following table provides information with respect to the Company’s purchases of its Class A Common Stock during the quarter ended September 30, 2023:
+Added: Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Program Maximum Fair Value of Shares that May Yet Be Purchased Under the Program
+Added: — $ — — $ 225,000,023
+Added: 1,922,750 34.07 1,922,750 159,488,470
+Added: September 2023
+Added: 1,602,564 31.20 1,602,564 109,488,473
+Added: 3,525,314 $ 32.77 3,525,314 $ 109,488,473
(a) Index to Exhibits
−Removed: Distribution Agreement, dated as of March 29, 2023, between Sphere Entertainment Co.
−Removed: (formerly Madison Square Garden Entertainment Corp.) and Madison Square Garden Entertainment Corp.
−Removed: (formerly MSGE Spinco Inc.) (incorporated by reference to Exhibit 2.1 to the Company’s Registration Statement on Form 10 (file No.
−Removed: 001-41627) filed on March 30 , 2023).
−Removed: Contribution Agreement, dated as of March 29, 2023, between Sphere Entertainment Co.
−Removed: (formerly Madison Square Garden Entertainment Corp.), Sphere Entertainment Group, LLC (formerly MSG Entertainment Group, LLC) and Madison Square Garden Entertainment Corp.
−Removed: (formerly MSGE Spinco Inc.) (incorporated by reference to Exhibit 2.2 to the Company’s Registration Statement on Form 10 (file No.
−Removed: 001-41627) filed on March 30 , 2023).
−Removed: Second Amended and Restated Certificate of Incorporation of Madison Square Garden Entertainment Corp.
−Removed: (formerly MSGE Spinco, Inc.), dated April 20, 2023 (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed on April 24, 2023).
−Removed: Amended By-Laws of Madison Square Garden Entertainment Corp.
−Removed: (formerly MSGE Spinco, Inc.), dated April 20, 2023 (incorporated by reference to Exhibit 3.2 to the Company’s Current Report on Form 8-K filed on April 24, 2023).
−Removed: Shareholder ’ s and Registration Rights Agreement, dated March 29, 2023, between Sphere Entertainment Co.
−Removed: (formerly Madison Square Garden Entertainment Corp.) and Madison Square Garden Entertainment Corp.
−Removed: (formerly MSGE Spinco, Inc.) (incorporated by reference to Exhibit 4.3 to the Company’s Registration Statement on Form 10 (file No.
−Removed: 001-41627) filed on March 30 , 2023) .
−Removed: Transition Services Agreement, dated as of March 29, 2023, between Sphere Entertainment Co.
−Removed: (formerly Madison Square Garden Entertainment Corp.) and Madison Square Garden Entertainment Corp.
−Removed: (formerly MSGE Spinco, Inc.) (incorporated by reference to Exhibit 10.1 to the Company’s Registration Statement on Form 10 (file No.
−Removed: 001-41627) filed on March 30 , 2023).
−Removed: Tax Disaffiliation Agreement, dated as of March 29, 2023, between Sphere Entertainment Co.
−Removed: (formerly Madison Square Garden Entertainment Corp.) and Madison Square Garden Entertainment Corp.
−Removed: (formerly MSGE Spinco, Inc.) (incorporated by reference to Exhibit 10.2 to the Company’s Registration Statement on Form 10 (file No.
−Removed: 001-41627) filed on March 30 , 2023) .
−Removed: Employee Matters Agreement, dated March 29, 2023, between Sphere Entertainment Co.
−Removed: (formerly Madison Square Garden Entertainment Corp.) and Madison Square Garden Entertainment Corp.
−Removed: (formerly MSGE Spinco, Inc.) (incorporated by reference to Exhibit 10.3 to the Company’s Registration Statement on Form 10 (file No.
−Removed: 001-41627) filed on March 30 , 2023) .
−Removed: Standstill Agreement, dated March 31, 2023, between Madison Square Garden Entertainment Corp.
−Removed: (formerly MSGE Spinco, Inc.) and The Dolan Family Group (incorporated by reference to Exhibit 10.8 to the Company ’ s Current Report on Form 8-K filed on April 24, 2023).
−Removed: Form of Madison Square Garden Entertainment Corp.
−Removed: (formerly MSGE Spinco, Inc.) Restricted Stock Units Agreement.
−Removed: Form of Madison Square Garden Entertainment Corp.
−Removed: (formerly MSGE Spinco, Inc.) Performance Restricted Stock Units Agreement.
−Removed: Form of Madison Square Garden Entertainment Corp.
−Removed: (formerly MSGE Spinco, Inc.) Option Agreement.
−Removed: Form of Madison Square Garden Entertainment Corp.
−Removed: (formerly MSGE Spinco, Inc.) Performance Option Agreement.
−Removed: Form of Madison Square Garden Entertainment Corp.
−Removed: (formerly MSGE Spinco, Inc.) Restricted Stock Units Agreement in respect of Sphere Entertainment Co.
−Removed: Restricted Stock Units.
−Removed: Form of Madison Square Garden Entertainment Corp.
−Removed: (formerly MSGE Spinco, Inc.) Option Agreement in respect of Sphere Entertainment Co.
−Removed: Form of Madison Square Garden Entertainment Corp.
−Removed: (formerly MSGE Spinco, Inc.) Performance Restricted Stock Units in respect of Sphere Entertainment Co.
−Removed: Performance Restricted Stock Units.
+Added: Amendment No.
+Added: 3 to Credit Agreement, dated as of September 15, 2023, among MSG National Properties, LLC, the guarantors party thereto, the lender party thereto and JPMorgan Chase Bank, N.A., as administrative agent (incorporated by reference to Exhibit 10.1 to the Company ’ s Current Report on Form 8-K filed on September 21, 2023) .
Certification by the Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
3 unchanged sentences
The following materials from Madison Square Garden Entertainment Corp.
−Removed: (formerly MSGE Spinco, Inc.) Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, formatted in Inline Extensible Business Reporting Language (iXBRL):
−Removed: (i) condensed consolidated balance sheets, (ii) condensed consolidated statements of operations, (iii) condensed consolidated statements of comprehensive loss, (iv) condensed consolidated statements of cash flows, (v) condensed consolidated statements of equity and redeemable noncontrolling interests, and (vi) notes to condensed consolidated financial statements.
−Removed: The cover page from the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 formatted in Inline XBRL and contained in Exhibit 101.
−Removed: _________________
−Removed: † This exhibit is a management contract or a compensatory plan or arrangement.
−Removed: Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized on the 18th day of May 2023.
+Added: Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, formatted in Inline Extensible Business Reporting Language (iXBRL):
+Added: (i) condensed consolidated balance sheets, (ii) condensed consolidated and combined statements of operations, (iii) condensed consolidated and combined statements of comprehensive loss, (iv) condensed consolidated and combined statements of cash flows, (v) condensed consolidated and combined statements of (deficit) equity, and (vi) notes to condensed consolidated and combined financial statements.
+Added: The cover page from the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 formatted in Inline XBRL and contained in Exhibit 101.
+Added: Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized on the 7th day of November 2023.
Madison Square Garden Entertainment Corp.
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.