Callaway Golf Company ( NYSE: ELY ) announced that it plans to change its corporate name to Topgolf Callaway Brands Corp.
The company said the name change reflects its dynamic brand portfolio, including on- and off-course golf.
CEO Chip Brewer said he believes Topgolf Callaway Brands simultaneously communicates robust growth and change along with stability and strength.
The corporate name change is expected to be effective on or about September 6. In connection with the change, the company also intends to change its ticker symbol on the New York Stock Exchange from ELY to MODG to reflect its leadership position in the Modern Golf ecosystem.
Shares of ELY were flat in premarket trading at $23.03 vs. the 52-week trading range of $17.78 to $31.68.
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Callaway Golf plans to change names to Topgolf Callaway Brands