DoubleDown Interactive Announces Launch of Initial Public Offering
SEATTLE, June 18, 2020 (GLOBE NEWSWIRE) -- DoubleDown Interactive Co., Ltd. (“DoubleDown”), a leading developer and publisher of digital social casino games, today announced that it has commenced the initial public offering of its American Depositary Shares (“ADSs”) representing shares of DoubleDown’s common stock. DoubleDown, together with a selling stockholder, are offering an aggregate of 11,000,000 ADSs. Every twenty ADSs represent one ordinary share. The initial public offering price is expected to be between US$17 to US$19 per ADSs. The selling stockholder expects to grant the underwriters a 30-day option to purchase up to an additional 1,650,000 ADSs at the initial public offering price. The ADSs are expected to trade on the NASDAQ Global Select Market under the ticker symbol “DDI”.
J.P. Morgan Securities LLC and BofA Securities will act as lead book-running managers for the offering. Macquarie Capital (USA) Inc. will act as book-running manager for the offering.
The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to this offering may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-866-803-9204 or by email at firstname.lastname@example.org; BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attention: Prospectus Department or by email at email@example.com.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to notice of its acceptance given after the effective date.
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.
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Chief Financial Officer