Callaway Golf Co

Topgolf Callaway Brands Corp. (NYSE: MODG) operates as a leading golf entertainment and equipment company serving golfers and entertainment seekers worldwide through its integrated portfolio of brands and venues. The company's website is located at www.topgolfcallawaybrands.com.

The company operates through two primary business segments: Topgolf and Callaway Golf. The Topgolf segment encompasses the company's entertainment venues and media operations, featuring high-tech golf entertainment centers that combine golf simulation technology with food, beverage, and social experiences. The Callaway Golf segment includes the design, manufacture, and distribution of golf equipment and apparel, encompassing multiple established brands including Callaway, Odyssey, PING, TravisMathew, Jack Wolfskin, and OGIO.

Topgolf operates numerous entertainment venues across North America and international markets, offering a unique golf entertainment experience that appeals to both experienced golfers and casual entertainment seekers. The Callaway Golf segment manufactures and sells golf clubs, golf balls, golf bags, and golf apparel through both direct-to-consumer channels and retail partnerships globally.

The company maintains a substantial international presence with operations across the United States, Canada, Europe, and other key markets. Its portfolio includes iconic golf equipment brands with deep heritage in the sport, complemented by the modern entertainment-focused Topgolf venue concept that has expanded significantly in recent years.

The company's business model combines the traditional golf equipment manufacturing and retail business with innovative entertainment venue operations, creating a diversified revenue stream from both product sales and venue-based experiences. This integration allows the company to leverage brand recognition across multiple customer touchpoints while capitalizing on the growing entertainment and experiential spending trends.

The Fourth Amendment to the Loan Agreement documented here reflects the company's strategic transaction involving the sale of a sixty percent stake in its Topgolf business to LGP TG Aggregator LLC, representing a significant capital event and restructuring of the company's debt obligations to accommodate the transaction's completion and the resulting changes to the obligor structure under its credit facilities.