Madison Square Garden Entertainment Corp. (MSGE) at the moment introduced that Sphere Entertainment Group, LLC has commenced an underwritten secondary providing of 5,250,000 shares of MSG Entertainment’s Class A standard inventory. In reference to the providing, the Selling Stockholder intends to grant the underwriters a 30-day choice to buy as much as an extra 787,500 shares of MSG Entertainment’s Class A standard inventory on the public providing value, much less underwriting reductions and commissions.

In addition, underneath MSG Entertainment’s current $250 million share repurchase authorization, MSG Entertainment intends to repurchase immediately from the Selling Stockholder plenty of shares equal to roughly $25 million (the “share repurchase”). The share repurchase is predicted to happen concurrently with the closing of the providing, at a value per share equal to the worth at which the underwriters will buy the shares from the Selling Stockholder within the providing. The Company intends to fund the share repurchase from money available. The share repurchase is topic to the completion of the providing. The closing of the providing will not be contingent on the closing of the share repurchase.

The Selling Stockholder will obtain all the internet proceeds from the providing. MSG Entertainment will not be promoting any shares of its Class A standard inventory within the providing and won’t obtain any proceeds from the sale of shares by the Selling Stockholder within the providing. Upon completion of the providing and share repurchase, assuming the underwriters’ choice to buy further shares will not be exercised, the Selling Stockholder is predicted to beneficially personal 25.1% of MSG Entertainment’s Class A standard inventory.^[1]

BofA Securities, Goldman Sachs & Co. LLC and J.P. Morgan (in alphabetical order) are performing as joint book-running managers for the providing.

The providing shall be made solely via a prospectus. A duplicate of the registration assertion, together with the preliminary prospectus regarding this providing, could also be obtained by way of the next hyperlink: https://www.sec.gov/ix?doc=/Archives/edgar/data/0001952073/000119312523170152/d512370ds1.htm. Alternatively, the Company or any underwriter collaborating within the providing will prepare to ship you the prospectus for those who request it by contacting: BofA Securities, 201 North Tryon Street, Charlotte, NC 28255, Mail Code NC1-022-02-25, consideration: Prospectus Department or by e-mail at dg.prospectus_requests@bofa.com; Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282, consideration: Prospectus Department, by phone at (866) 471-2526 or by e-mail at prospectus-ny@ny.e-mail.gs.com; J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by phone: 1-866-803-9204 or by e-mail at prospectus-eg_fi@jpmchase.com.

A registration assertion on Form S-1 regarding the securities has been filed with the Securities and Exchange Commission however has not but change into efficient. The securities is probably not bought nor might provides to purchase be accepted previous to the time the registration assertion turns into efficient. Before you make investments, you need to learn the prospectus in that registration assertion for extra full details about the Company and this providing. This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase these securities, nor shall there be any sale of those securities in any state or jurisdiction during which such provide, solicitation or sale could be illegal previous to registration or qualification underneath the securities legal guidelines of any such state or jurisdiction.

About Madison Square Garden Entertainment Corp.
Madison Square Garden Entertainment Corp. (MSG Entertainment) is a pacesetter in dwell leisure, delivering unforgettable experiences whereas forging deep connections with numerous and passionate audiences. The Company’s portfolio features a assortment of world-renowned venues – New York’s Madison Square Garden, The Theater at Madison Square Garden, Radio City Music Hall, and Beacon Theatre; and The Chicago Theatre – that showcase a broad array of sporting occasions, live shows, household exhibits, and particular occasions for hundreds of thousands of company yearly. In addition, the Company options the unique manufacturing, the Christmas Spectacular Starring the Radio City Rockettes, which has been a vacation custom for 89 years.

Forward-Looking Statements
This press launch might include statements that represent forward-looking statements inside the that means of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements will not be ensures of future efficiency or outcomes and contain dangers and uncertainties, and that precise outcomes, developments or occasions might differ materially from these within the forward-looking statements on account of numerous components, together with monetary neighborhood perceptions of the Company and its enterprise, operations, monetary situation and the industries during which it operates and the components described within the Company’s filings with the Securities and Exchange Commission, together with the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained therein. The Company disclaims any obligation to replace any forward-looking statements contained herein.

Contacts

Ari Danes, CFA
Senior Vice President, Investor Relations, Financial Communications & Treasury
Madison Square Garden Entertainment Corp.
(212) 465-6072

Justin BlaberVice President, Financial Communications
Madison Square Garden Entertainment Corp.
(212) 465-6109

Grace KaminerSenior Director, Investor Relations & Treasury
Madison Square Garden Entertainment Corp.
(212) 631-5076

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SOURCE Madison Square Garden Entertainment Corp.