NEW YORK, Sept. 19, 2023 /PRNewswire/ — Madison Square Garden Entertainment Corp. (NYSE: MSGE) (the “Company” or “MSG Entertainment”) in the present day introduced the pricing of the beforehand introduced underwritten secondary providing by Sphere Entertainment Group, LLC (the “Selling Stockholder”) of seven,150,000 shares of MSG Entertainment’s Class A typical inventory at a public providing worth of $32.50 per share. The shares are anticipated to be delivered on or about September 22, 2023, topic to the satisfaction of customary closing circumstances. The Selling Stockholder has granted the underwriters a 30-day choice to buy as much as an extra 1,071,188 shares of MSG Entertainment’s Class A typical inventory on the public providing worth, much less underwriting reductions.

In addition, as a part of the secondary providing, MSG Entertainment intends to repurchase 1,602,564 shares of its Class A typical inventory from the underwriters, at a worth of $31.20 per share, for an combination quantity of roughly $50 million, beneath the Company’s present share repurchase authorization (the “share repurchase”).  The Company intends to fund the share repurchase from borrowings beneath its present revolving credit score facility, which has been amended to extend the out there capability from $100 million to $150 million. Upon completion of the share repurchase, the Company estimates that the excellent stability beneath its revolving credit score facility can be roughly $67 million.

The Selling Stockholder will obtain the entire internet proceeds from the providing. MSG Entertainment will not be promoting any shares of its Class A typical 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, if the underwriters’ choice to buy extra shares is exercised in full, the Selling Stockholder will not personal any MSG Entertainment Class A typical inventory.

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 is being made solely by way of a prospectus. A duplicate of the registration assertion, together with the preliminary prospectus regarding this providing, could also be obtained by means of the next hyperlink: https://www.sec.gov/Archives/edgar/data/1952073/000119312523236537/d508798ds1.htm.  Alternatively, the Company or any underwriter taking part within the providing will organize to ship you the prospectus in the event you request it by contacting: BofA Securities, 201 North Tryon Street, Charlotte, NC 28255, Mail Code NC1-022-02-25, consideration: Prospectus Department or by electronic mail at [email protected]; Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282, consideration: Prospectus Department, by phone at (866) 471-2526 or by electronic mail at [email protected]; J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by phone: 1-866-803-9204 or by electronic mail at [email protected].

A registration assertion on Form S-1 regarding the securities has been declared efficient by the Securities and Exchange Commission. Before you make investments, it’s best 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 supply, solicitation or sale can be illegal previous to registration or qualification beneath 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 reside 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 reveals, and particular occasions for tens of millions of visitors 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 could 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 could differ materially from these within the forward-looking statements because of varied components, together with monetary group 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 Blaber
Vice President, Financial Communications
Madison Square Garden Entertainment Corp.
(212) 465-6109

Grace Kaminer
Vice President, Investor Relations & Treasury
Madison Square Garden Entertainment Corp.
(212) 631-5076

SOURCE Madison Square Garden Entertainment Corp.