DoubleDown Interactive Files Amendment To Registration Statement With B. Riley Securities As Lead Left Bookrunner
DoubleDown Interactive announced the engagement of B. Riley Securities as lead underwriter for its upcoming initial public offering (IPO) of American Depositary Shares (ADSs) on NASDAQ under the symbol DDI.
Sentiment and the balance of points
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Rhea-AI Summary
DoubleDown Interactive announced the engagement of B. Riley Securities as lead underwriter for its upcoming initial public offering (IPO) of American Depositary Shares (ADSs) on NASDAQ under the symbol DDI. The registration statement on Form F-1 has been filed with the SEC but is not yet effective, meaning no offers can be made until it becomes effective. Macquarie Capital will also serve as an underwriter. This IPO aims to offer additional capital to support the company's growth.
Positive
- Engagement of reputable underwriters (B. Riley Securities and Macquarie Capital) indicates confidence in the IPO.
- Approval to list ADSs on NASDAQ under symbol DDI, enhancing market visibility.
- Potential for significant capital raise through the IPO to support future growth.
Negative
- Registration statement has not yet become effective, delaying potential funding.
- Forward-looking statements carry inherent risks and uncertainties that may affect investor confidence.
Details
News Market Reaction – DDI
The recorded move for DDI in the trading session of this news was -19.28%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
SEATTLE and SEOUL, July 07, 2021 (GLOBE NEWSWIRE) -- DoubleDown Interactive Co., Ltd., organized under the laws of the Republic of Korea (the “Company”), a subsidiary of Korea-based DoubleU Games Co., Ltd., announced today that it has engaged B. Riley Securities, Inc. as the lead underwriter of its previously announced proposed U.S. initial public offering of its common shares in the form of American Depositary Shares (the “ADSs”). The ADSs have been approved for listing on the NASDAQ Stock Market (“NASDAQ”) under the symbol “DDI.” Macquarie Capital (USA) Inc. will remain as an active underwriter.
A post-effective amendment to the Company’s registration statement on Form F-1 relating to these securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”) but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time such the registration statement, as amended, becomes 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. The proposed 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 the Offering, when available, may be obtained by using EDGAR on the SEC website at www.sec.gov or by contacting: B. Riley Securities, Inc., 1300 17th Street North, Suite 1300, Arlington, VA 22209, telephone: (703) 312-9580 or e-mail: prospectuses@brileyfin.com and/or Macquarie Capital (USA) Inc., 125 West 55th Street, New York, NY 10019, telephone: (212) 231-1000 or e-mail: macquarieequitysyndicateusa@macquarie.com.
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 Contacts
Investor Relations:
Joe Sigrist
ir@doubledown.com
+1 (206) 408-7545
Chief Financial Officer
SOURCE Doubledowninteractive
Related Links
https://www.doubledowninteractive.com/
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