0001193125-26-188951
SEC filingDoubleDown Interactive received a non-binding expression of interest from controlling shareholder DoubleU Games to acquire all outstanding shares for $11.25 per ADS.
DoubleDown Interactive Co., Ltd. (NASDAQ: DDI) disclosed receipt of a non-binding expression of interest from its controlling shareholder, DoubleU Games Co., Ltd. (DUG), to acquire all outstanding common shares and ADSs not already held by DUG for $11.25 per ADS in cash. DUG currently holds approximately 67.1% of the company's outstanding common shares. In response, DoubleDown's Board of Directors formed a special committee composed solely of independent and disinterested directors to review, evaluate, and negotiate the proposal. The special committee is expected to retain independent legal and financial advisors. The company emphasized that no decision has been made, there is no assurance that any transaction will be pursued or consummated, and no shareholder action is required at this time. This development represents a significant potential change in control and valuation event for the company, warranting close investor attention.