DoubleU Games launches all‑cash tender offer for DoubleDown Interactive at $16.25 per ADS
DoubleU Games Co., Ltd. announced an all‑cash tender offer to purchase every DoubleDown Interactive American Depositary Share it does not already own for $16.25 per ADS. The company already controls about 67.05% of DoubleDown and the offer will only close if a minimum tender threshold of 95% of the outstanding shares is met, with a possible reduction to 90% with consent. A non‑waivable majority‑of‑minority condition requires more than 50% of the unaffiliated holders’ ADSs to be tendered. DoubleU expects to fund the transaction with cash on hand and a bridge‑loan facility of up to KRW300 billion.
Why it matters
If the tender succeeds, DoubleU will own 100% of DoubleDown, likely leading to delisting of the ADS and a change in control that could affect DDI shareholders’ rights and liquidity. The offer price of $16.25 per ADS sets a definitive cash value for holders who choose to tender.
Key facts
- 1The tender offer price is US$16.25 per ADS. finance.yahoo.com
- 2DoubleU Games currently owns approximately 67.05% of DoubleDown’s outstanding common shares. finance.yahoo.com
- 3The offer is subject to a minimum tender condition requiring DoubleU to own at least 95% of DoubleDown’s outstanding common shares after the offer, which may be reduced to not less than 90% with prior written consent. finance.yahoo.com
- 4A non‑waivable majority‑of‑minority condition requires more than 50% of the ADSs held by unaffiliated holders to be validly tendered. finance.yahoo.com
- 5DoubleU expects to fund the transaction with cash on hand and a bridge‑loan facility of up to KRW300 billion. finance.yahoo.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.