Equipment

Callaway announces huge all-stock merger deal with Topgolf

Published

3 years ago

Oct 28, 2020

Callaway Golf has announced an all-stock merger agreement with TopGolf with the number of shares to be issued based upon an implied equity value of Topgolf of approximately $2 billion – including the 14% already owned by Callaway.

Callaway first invested in the golf entertainment company, Topgolf, back in 2006 entering an exclusive golf partnership agreement at all Topgolf venues.

On the new deal expected to be completed in early 2021, Chip Brewer, President and Chief Executive Officer of Callaway said that the all-stock merger between the two can create “an unrivaled golf and entertainment business”.

“Together, Callaway and Topgolf create an unrivaled golf and entertainment business. This combination unites proven leaders with a shared passion for delivering exceptional golf experiences for all from elite touring professionals to new and aspiring entrants to the game. We’ve long seen the value in Topgolf and we are confident that together, we can create a larger, higher growth, technology-enabled global golf and entertainment leader.”

Under the terms of the merger agreement, Callaway will issue approximately 90 million shares of its common stock to the shareholders of Topgolf, excluding Callaway, which currently holds approximately 14% of Topgolf’s outstanding shares. Upon completion of the merger, Callaway shareholders will own approximately 51.5%, and Topgolf shareholders (excluding Callaway) will own about 48.5% of the combined company on a fully diluted basis.

Topgolf’s revenue for 2019 was approximately $1.1 billion, and the company currently has 63 locations worldwide, including 58 in the U.S., and has more than 23 million customers. Find out all about Topgolf here.

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Whats in the Bag

Jimmy Stanger WITB 2024 (April)

Published

1 hour ago

Apr 2, 2024

GolfWRX Staff

Jimmy Stanger what’s in the bag accurate as of the Valero Texas Open. More photos from the event here.

Driver: Titleist TSR2 (10 degrees, A1 SureFit setting)
Shaft: UST Mamiya LIN-Q Red M40X 6F5

3-wood: Titleist TSR2 (15 degrees, A1 SureFit setting)
Shaft: UST Mamiya LIN-Q

Check out more in-hand photos of Jimmy Stanger’s equipment here.

7-wood: Titleist TSR2 (21 degrees, D1 SureFit setting)
Shaft: UST Mamiya LIN-Q Blue M40X 8F5

Irons: Titleist T200 (3), Titleist T100 (4-9)
Shafts: UST Mamiya LIN-Q White M40X 100 (3), KBS $-Taper 125 (4-9)

Check out more in-hand photos of Jimmy Stanger’s equipment here.

Wedges: Titleist Vokey Design SM10 (46-10F, 50-08F, 56-10S, 60-04T), WedgeWorks (60-A)
Shafts: KBS Hi-Rev 2.0 135 X

Putter: Scotty Cameron Tour Rat II, Scotty Cameron Tour Rat II

Check out more in-hand photos of Jimmy Stanger’s equipment here.

Grips: Lamkin Crossline Cord

Ball: Titleist Pro V1

Check out more in-hand photos of Jimmy Stanger’s equipment here.

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Equipment

Project X HandCrafted shafts return with new HZRDUS T1100

Published

6 hours ago

Apr 2, 2024

Brian Knudson

Project X let us into the world of HandCrafted shafts with the 2015 HZRDUS Black shaft, which was a big success on professional tours and at retail. Almost 10 years later, we still come across some of those original HZRDUS Black and Yellow shafts in bags on the PGA Tour.

The HandCrafted label on a Project X shaft was the mark of high-end, low-volume manufacturing where the shaft was hand rolled in the company’s San Diego R&D lab. Since then, Project X retired that label and moved on to the “Small Batch” nomenclature. Many golf shaft degenerates have begged for Project X to bring back the HandCrafted shafts, and now, the squeaky wheels are getting the grease with a brand new Project X HZRDUS T1100 HandCrafted shaft.

“We are beyond excited to be able to bring back a HandCrafted line of graphite shafts,” Don Brown, Vice President of Marketing and Innovation for Project X said. “When producing a HandCrafted shaft, each shaft is rolled by hand, painted by hand and the logos are even applied by hand, all in our San Diego lab, ensuring the utmost care is taken along the way.”

The newest HandCrafted shaft is a reintroduction of the famed HZRDUS T1100 from 2017 (View our original launch story HERE). The chrome ion finished HZRDUS T1100 was beloved by higher-speed players for its ultra-stiff profile with very low launch and spin. Toray T1100G carbon fiber was at the heart of the shaft and the strongest fiber available for Project X to create an ultra-stable shaft for the fastest swingers in golf.

The new 2024 Project X HZRDUS T1100 HandCrafted shaft will be low launch and low spin with a very stiff profile for the fastest swingers. 4D Optimized Carbon utilizes a spread tow weave that is used in specific parts of the shaft to enhance stability and control. This spread tow woven fabric is angled at 45 degrees through to increase torsional resistance in the shaft to control the twisting of the head during the swing. Each HZRDUS T1100 HandCrafted shaft is rolled in Project X’s San Diego Lab, like the original, and trimmed to final frequency to ensure consistent performance and precision.

Project X went with a graphics package that will pay homage to the original shaft with a HZRDUS logo done in silver with bright neon green outline in the middle of the shaft and the HandCrafted logo just below the grip. The shaft will have a silver sheen to it, but you will also be able to see the spread tow carbon fiber through the paint in the sun.

The new HZRDUS T1100 HandCrafted will be available in 60- and 70-gram weights with 6.0 (stiff) and 6.5 (X-stiff) flexes while the 80-gram model will only be available in the 6.5 flex.

We don’t have a retail date yet for these new HZRDUS shafts, as Project X can only create so many per day. The first ones have been sent to tour — we spotted them at this week’s Valero Texas Open. We will keep you updated on an official launch date.