World Wrestling Entertainment Inc. put a price tag on its previously announced share offering Friday.
WWE said 6.14 million shares of its class-A common stock owned by the Vincent K. McMahon Irrevocable Trust will be made available in a public offering at $11.50 each, for a total of $70.67 million
The trust was established in June 1999 as an estate-planning vehicle for the benefit of WWE chairman Vince McMahon and members of his family. It holds shares of class-B common stock, which, upon their sale, will automatically be converted into class-A shares on a one-for-one basis, WWE said.
WWE said the underwriters -- UBS Securities LLC and Natexis Bleichroeder Inc. -- have a 30-day option to purchase an additional 921,736 shares.