Carlsbad, Calif., and Dallas — Carlsbad, Calif.-based equipment and apparel manufacturer Callaway Golf Co. has completed its merger with Topgolf Entertainment Group. The deal was originally announced in October 2020. Under the terms of the merger agreement, Callaway issued approximately 90 million shares of its common stock to the shareholders of Topgolf, excluding Callaway, which previously held approximately 14% of Topgolf’s outstanding shares. Callaway shareholders now own approximately 51.3% of the outstanding shares of the newly combined entity, and former Topgolf shareholders (excluding Callaway) own approximately 48.7%. Both firms have …
