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Topgolf IPO Could Value Company At $4 Billion

| January 17, 2020 @ 2:00 pm

By Gillian Tan, Scott Deveau and Kiel Porter
Bloomberg

Topgolf International Inc., an operator of driving ranges with a party atmosphere, has selected banks for an initial public offering that could value the company at about $4 billion, according to people familiar with the matter.

The Dallas-based company is working with banks, including Morgan Stanley, JPMorgan Chase & Co. and Bank of America Corp., said sources who asked to not be identified because the matter is private. Its IPO could come as soon as this year, they said.

Topgolf, led by Chief Executive Officer Dolf Berle, has $525 million in outstanding debt, according to data compiled by Bloomberg.

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