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CALLAWAY GOLF OFFERING OF GENERAL ELECTRIC PENSION TRUST SHARES PRICED AT $27

 CALLAWAY GOLF OFFERING OF
 GENERAL ELECTRIC PENSION TRUST SHARES PRICED AT $27
 CARLSBAD, Calif, Oct. 29 /PRNewswire/ -- An offering of 1.4 million shares of Callaway Golf Co. (NYSE: ELY) was priced at $27 per share today. All of the shares are being sold by General Electric Pension Trust (GEPT). The company, Ely Callaway and all other members of management are not selling any shares in the offering. Montgomery Securities is managing underwriter of the offering.
 Gross spread is $1.35, selling concession is $0.75 and reallowance is $0.10. Delivery is scheduled for Thursday, Nov. 5. The underwriter has been granted a 30-day option to buy an additional 210,000 shares from GEPT to cover over allotments.
 The company also said it has agreed, contingent upon closing of the proposed offering, to repurchase $5 million of additional shares of Callaway Golf common stock held by GEPT at approximately the same price per share as obtained by GEPT in the proposed offering.
 Callaway Golf Co. designs, manufactures and markets innovative golf clubs.
 -0- 10/29/92
 /CONTACT: Ely Callaway, chairman and CEO of Callaway Golf, 619-931-1771/
 (ELY) CO: Callaway Golf Co. ST: California IN: LEI SU: OFR


EH-BP -- SD002 -- 6661 10/29/92 14:13 EST
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Publication:PR Newswire
Date:Oct 29, 1992
Words:207
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