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After nearly five years of pain for investors, Callaway is selling off control of Topgolf to private equity — and at a significantly discounted valuation.
The company
MODG isn’t just selling 60% of its Topgolf stake. It will also change its name back to Callaway Golf Co. when the sale is completed — as if the acquisition of Topgolf never happened. The stock’s ticker symbol will change to “CALY.” The company changed to the current name of Topgolf Callaway Brands Corp. in September 2022, 18 months after the merger closed in March 2021.
