Topgolf Callaway Brands Repays $1 Billion Debt, Launches $200 Million Stock Buyback.

Topgolf Callaway Brands Corp. completed the sale of a 60% stake in its Topgolf and Toptracer businesses for approximately $1.1 billion. The company received $800 million in cash proceeds and repaid $1 billion of outstanding debt. Topgolf Callaway Brands will change its corporate name back to Callaway Golf Company and ticker symbol to CALY. A new $200 million stock repurchase program has been announced.