DoubleU Games replaces prior DoubleDown proposal with $16.25-per-ADS cash tender offer
DDI•DoubleU Games agreed to acquire DoubleDown Interactive ADSs not already held by its affiliates for $16.25 each, replacing its prior proposal. DoubleU Games already owns about 67.05% and would acquire the remaining shares at the same price, subject to ownership and tender conditions.
1. Tender offer terms
DoubleU Games agreed to acquire DoubleDown Interactive’s outstanding American Depositary Shares not already held by its affiliates for $16.25 each. It already owns approximately 67.05% and would acquire the remaining shares through a second-step transaction at the same price per ADS. Completion requires 95% ownership, reducible to 90% with consent, and tenders from more than 50% of ADSs held by unaffiliated holders. An independent special committee unanimously deemed the terms fair, and the board unanimously endorsed the agreement. Funding includes cash and a bridge loan facility of up to KRW 300 billion; the offer has no financing condition.
