Nasdaq:DDI
DoubleDown Interactive Announces Pricing of Initial Public Offering
SEATTLE, Aug. 31, 2021 (GLOBE NEWSWIRE) — DoubleDown Interactive Co., Ltd. (“DoubleDown”, or the “Company”), a leading developer and publisher of digital social casino games, today announced the pricing of its initial public offering of 6,316,000 American Depositary Shares (the “ADSs”), each ADS representing 0.05 common share at a price of $18.00 per ADS, for gross proceeds of $113.7 million. The number of ADSs offered and to be sold by the Company is 5,263,000, and the number of ADSs offered and to be sold by a selling shareholder is 1,053,000. The selling shareholder has granted the underwriters a 30-day option to purchase up to an additional 947,400 ADSs at the initial public offering price. The net proceeds to the Company from the sale of the ADSs will be approximately $86.5 million, after deducting underwriters discounts and commissions and estimated offering expenses. DoubleDown will not receive any proceeds from the sale of ADSs by the selling shareholder.
The ADSs are expected to begin trading on The NASDAQ Global Select Market (“NASDAQ”) on August 31, 2021 under the ticker symbol “DDI,” and the offering is expected to close on September 2, 2021, subject to customary closing conditions.
B. Riley Securities is acting as the sole bookrunner for the offering. CBRE and Northland Capital Markets are acting as co-managers for the offering.
A registration statement on Form F-1 relating to this offering was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on August 30, 2021. The offering will be made only by means of a prospectus contained in the Company’s registration statement, as amended. Copies of the preliminary prospectus relating to this offering may be obtained from B. Riley Securities, Inc., 1300 17th Street North, Suite 1300, Arlington, VA 22209, by telephone at 1-703-312-9580 or by email at [email protected].
No action has been taken in any jurisdiction, other than the United States and the Republic of Korea, for the registration of the securities of the Company in connection with any offer to sell or the solicitation of an offer to buy any securities of the Company.
This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities and no sale of these securities may be made in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
Certain statements herein are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company’s current expectations or beliefs concerning future events and actual events may differ materially from current expectations. Any such forward-looking statements are subject to various risks and uncertainties, including the strength of the economy, changes to the market for securities, political or financial instability and other factors which are set forth in the Company’s registration statement on Form F-1, as amended, and annual report on Form 20-F and in all filings with the SEC made by the Company subsequent to the filing thereof. The Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Company Contact:
Joe Sigrist
[email protected]
+1 (206) 408-7545
Chief Financial Officer
https://www.doubledowninteractive.com
Investor Relations Contact:
Cody Slach, Jeff Grampp
Gateway Group
1-949-574-3860
[email protected]
Nasdaq:DDI
DoubleU Games to Purchase Additional Shares of DoubleDown Interactive from Current Shareholder
SEOUL, Korea, Oct. 07, 2021 (GLOBE NEWSWIRE) — DoubleU Games (192080:KS), a leading developer and publisher of social casino games, has advised DoubleDown Interactive (NASDAQ:DDI) (DDI) that it intends to acquire outstanding common shares of DDI in accordance with the Supplemental Agreement to the Joint Investment Agreement between DoubleU Games, DDI, and STIC Special Situation Diamond Limited (STIC), dated July 16, 2021.
DoubleU Games has agreed to purchase from STIC 161,927 common shares at a price per share of US$360.00, which is the equivalent of 3,238,540 ADSs of DDI, through this transaction. Twenty (20) ADSs represent one common share in DDI. After consummation of the transaction, the number of DDI common shares owned by DoubleU Games will increase from approximately 60.5% to 67.0% of the total issued and outstanding common shares of DDI. The transaction is expected to close by the end of October 2021.
Jay Choi, CFO at DoubleU Games, said, “Doubleu Games has strong confidence in DDI’s long-term growth, and based on this, we have decided to acquire the shares. The two companies will continue to grow collaboratively based on this solid relationship.”
About DoubleU Games
DoubleU Games Co., Ltd. is a Korea-based game development company. It offers multiple gaming products such as ‘DoubleU Casino’ and ‘Take5 Slots’ and others. The company was founded in 2012 and was listed on the KOSPI in 2019 through continuing growth. DoubleU Games Co., Ltd. is DoubleDown Interactive Co., Ltd.’s majority shareholder and has a strong position in the global social casino market.
About DoubleDown Interactive
DoubleDown Interactive Co., Ltd. is a leading developer and publisher of digital games on mobile and web-based platforms. DDI is the creator of multi-format interactive entertainment experiences for casual players, bringing authentic Vegas entertainment to players around the world through an online social casino experience. DDI’s flagship title, DoubleDown Casino, has been a fan-favorite game on leading social and mobile platforms for years, entertaining millions of players worldwide with a lineup of classic and modern games.
Safe Harbor Statement
Certain statements contained in this press release are “forward-looking statements” about future events and expectations for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on our beliefs, assumptions, and expectations of industry trends, our future financial and operating performance, and our growth plans, taking into account the information currently available to us. These statements are not statements of historical fact. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. Therefore, you should not place undue reliance on such statements. Words such as “anticipates,” believes,” “continues,” “estimates,” “expects,” “goal,” “objectives,” “intends,” “may,” “opportunity,” “plans,” potential,” “near-term,” long-term,” “projections,” “assumptions,” “projects,” “guidance,” “forecasts,” “outlook,” “target,” “trends,” “should,” “could,” “would,” “will,” and similar expressions are intended to identify such forward-looking statements. We qualify any forward-looking statements entirely by these cautionary factors. We assume no obligation to update or revise any forward-looking statements for any reason or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Company Contact:
IR Team
[email protected]
http://www.doubleugames.com/
Nasdaq:DDI
DoubleU Games to Purchase Additional Shares of DoubleDown Interactive from Current Shareholder
SEOUL, Korea, Oct. 07, 2021 (GLOBE NEWSWIRE) — DoubleU Games (192080:KS), a leading developer and publisher of social casino games, has advised DoubleDown Interactive (NASDAQ:DDI) (DDI) that it intends to acquire outstanding common shares of DDI in accordance with the Supplemental Agreement to the Joint Investment Agreement between DoubleU Games, DDI, and STIC Special Situation Diamond Limited (STIC), dated July 16, 2021.
DoubleU Games has agreed to purchase from STIC 161,927 common shares at a price per share of US$360.00, which is the equivalent of 3,238,540 ADSs of DDI, through this transaction. Twenty (20) ADSs represent one common share in DDI. After consummation of the transaction, the number of DDI common shares owned by DoubleU Games will increase from approximately 60.5% to 67.0% of the total issued and outstanding common shares of DDI. The transaction is expected to close by the end of October 2021.
Jay Choi, CFO at DoubleU Games, said, “Doubleu Games has strong confidence in DDI’s long-term growth, and based on this, we have decided to acquire the shares. The two companies will continue to grow collaboratively based on this solid relationship.”
About DoubleU Games
DoubleU Games Co., Ltd. is a Korea-based game development company. It offers multiple gaming products such as ‘DoubleU Casino’ and ‘Take5 Slots’ and others. The company was founded in 2012 and was listed on the KOSPI in 2019 through continuing growth. DoubleU Games Co., Ltd. is DoubleDown Interactive Co., Ltd.’s majority shareholder and has a strong position in the global social casino market.
About DoubleDown Interactive
DoubleDown Interactive Co., Ltd. is a leading developer and publisher of digital games on mobile and web-based platforms. DDI is the creator of multi-format interactive entertainment experiences for casual players, bringing authentic Vegas entertainment to players around the world through an online social casino experience. DDI’s flagship title, DoubleDown Casino, has been a fan-favorite game on leading social and mobile platforms for years, entertaining millions of players worldwide with a lineup of classic and modern games.
Safe Harbor Statement
Certain statements contained in this press release are “forward-looking statements” about future events and expectations for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on our beliefs, assumptions, and expectations of industry trends, our future financial and operating performance, and our growth plans, taking into account the information currently available to us. These statements are not statements of historical fact. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. Therefore, you should not place undue reliance on such statements. Words such as “anticipates,” believes,” “continues,” “estimates,” “expects,” “goal,” “objectives,” “intends,” “may,” “opportunity,” “plans,” potential,” “near-term,” long-term,” “projections,” “assumptions,” “projects,” “guidance,” “forecasts,” “outlook,” “target,” “trends,” “should,” “could,” “would,” “will,” and similar expressions are intended to identify such forward-looking statements. We qualify any forward-looking statements entirely by these cautionary factors. We assume no obligation to update or revise any forward-looking statements for any reason or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Company Contact:
IR Team
[email protected]
http://www.doubleugames.com/
Nasdaq:DDI
DoubleU Games to Purchase Additional Shares of DoubleDown Interactive from Current Shareholder
SEOUL, Korea, Oct. 07, 2021 (GLOBE NEWSWIRE) — DoubleU Games (192080:KS), a leading developer and publisher of social casino games, has advised DoubleDown Interactive (NASDAQ:DDI) (DDI) that it intends to acquire outstanding common shares of DDI in accordance with the Supplemental Agreement to the Joint Investment Agreement between DoubleU Games, DDI, and STIC Special Situation Diamond Limited (STIC), dated July 16, 2021.
DoubleU Games has agreed to purchase from STIC 161,927 common shares at a price per share of US$360.00, which is the equivalent of 3,238,540 ADSs of DDI, through this transaction. Twenty (20) ADSs represent one common share in DDI. After consummation of the transaction, the number of DDI common shares owned by DoubleU Games will increase from approximately 60.5% to 67.0% of the total issued and outstanding common shares of DDI. The transaction is expected to close by the end of October 2021.
Jay Choi, CFO at DoubleU Games, said, “Doubleu Games has strong confidence in DDI’s long-term growth, and based on this, we have decided to acquire the shares. The two companies will continue to grow collaboratively based on this solid relationship.”
About DoubleU Games
DoubleU Games Co., Ltd. is a Korea-based game development company. It offers multiple gaming products such as ‘DoubleU Casino’ and ‘Take5 Slots’ and others. The company was founded in 2012 and was listed on the KOSPI in 2019 through continuing growth. DoubleU Games Co., Ltd. is DoubleDown Interactive Co., Ltd.’s majority shareholder and has a strong position in the global social casino market.
About DoubleDown Interactive
DoubleDown Interactive Co., Ltd. is a leading developer and publisher of digital games on mobile and web-based platforms. DDI is the creator of multi-format interactive entertainment experiences for casual players, bringing authentic Vegas entertainment to players around the world through an online social casino experience. DDI’s flagship title, DoubleDown Casino, has been a fan-favorite game on leading social and mobile platforms for years, entertaining millions of players worldwide with a lineup of classic and modern games.
Safe Harbor Statement
Certain statements contained in this press release are “forward-looking statements” about future events and expectations for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on our beliefs, assumptions, and expectations of industry trends, our future financial and operating performance, and our growth plans, taking into account the information currently available to us. These statements are not statements of historical fact. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. Therefore, you should not place undue reliance on such statements. Words such as “anticipates,” believes,” “continues,” “estimates,” “expects,” “goal,” “objectives,” “intends,” “may,” “opportunity,” “plans,” potential,” “near-term,” long-term,” “projections,” “assumptions,” “projects,” “guidance,” “forecasts,” “outlook,” “target,” “trends,” “should,” “could,” “would,” “will,” and similar expressions are intended to identify such forward-looking statements. We qualify any forward-looking statements entirely by these cautionary factors. We assume no obligation to update or revise any forward-looking statements for any reason or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Company Contact:
IR Team
[email protected]
http://www.doubleugames.com/
-
Australia4 weeks ago
Crown Approved to Retain its Melbourne Licence
-
Australia3 weeks ago
VGCCC Fines Bookmaker MintBet $100,000 for Repeat Breaches of its Responsible Gambling Code of Conduct
-
Africa2 weeks ago
BMM Testlabs Continues Its Expansion in Africa with New Licenses in Botswana and Nigeria to Test Land-Based and Digital Products
-
GAT Expo4 weeks ago
Pragmatic Play Prepares for GAT Cartagena Gaming Week 2024
-
Compliance Updates3 weeks ago
3 Oaks Gaming extends European reach with Romania licence
-
Central Europe3 weeks ago
Gaming Corps makes key European addition with Fortuna Entertainment Group partnership
-
Press Releases1 week ago
OpenBet Powers Record-Breaking 100,000+ Peak Bets per Minute at Grand National 2024
-
Africa3 weeks ago
IESF African Regional Qualifiers Host Announced