The Firm represented BofA Securities, Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, as joint book-running managers, in connection with the secondary offering by Sphere Entertainment Group, LLC (the “Selling Stockholder”) of 6,037,500 shares of Madison Square Garden Entertainment Corp.’s (“MSGE”) Class A common stock, which includes the exercise in full of the underwriters’ option to purchase additional shares. The Selling Stockholder received all of the approximately $187 million in gross proceeds from the offering.
MSGE is a leader in live entertainment, delivering unforgettable experiences while forging deep connections with diverse and passionate audiences. MSGE’s portfolio includes a collection 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 events, concerts, family shows, and special events for millions of guests annually. In addition, the Company features the original production, the Christmas Spectacular Starring the Radio City Rockettes, which has been a holiday tradition for 89 years.
The Simpson Thacher team included Roxane Reardon, Lesley Peng, Matt Petrone, Kaitlyn Posa and Neil Patel (Capital Markets); Jonathan Cantor and Edward Grais (Tax); Corina McIntyre and Rachelle Broida (Intellectual Property); Ryan Stott (Executive Compensation and Employee Benefits); Mike Isby (Environmental); Timothy Gallagher (Real Estate); and Jennie Getsin (FINRA and Blue Sky).