Business
B. Riley to Commence Tender Offer to Acquire Additional Shares of DoubleDown Interactive
Intends to offer to purchase an additional 2,000,000 ADS of DDI at the initial public offering price of $18.00 LOS ANGELES, Sept. 13, 2021 /PRNewswire/ -- B.
About this update from Brc Group Holdings, Inc.
[{"type":"text","content":"Intends to offer to purchase an additional 2,000,000 ADS of DDI at the initial public offering price of $18.00\n\n\nLOS ANGELES, Sept. 13, 2021 /PRNewswire/ -- B. Riley Financial, Inc. (Nasdaq: RILY) today announced it intends to commence a cash tender offer, through its wholly owned subsidiary (together, \"B. Riley\"), to purchase additional shares of DoubleDown Interactive Co., Ltd. (Nasdaq: DDI) (\"DDI\"), a leading developer and publisher of digital social casino games.\n\n \n \n \n \n \n \n\n \nB. Riley intends to commence a tender offer to purchase up to 2,000,000 American Depositary Shares (\"ADS\"), each representing 0.05 of a common share of DDI, at $18.00 per ADS. Terms of the tender offer are expected to be finalized shortly with the tender offer to formally commence by late September.\n\"We have been a significant purchaser of DDI in the open market since its initial public offering. As a well-run, highly profitable company with a predictable business model, DDI is a company in which we have strong conviction,\" said Bryant Riley, Chairman and Co-Chief Executive Officer of B. Riley Financial. \"Through this tender offer, we are providing transparency to shareholders of our intent to acquire additional shares at what we believe represents a highly compelling value at the proposed tender price of $18.00. We look forward to commencing the tender offer process and continuing our partnership with DDI and its shareholders.\"\nAbout B. Riley Financial B. Riley Financial provides collaborative solutions tailored to fit the capital raising and business advisory needs of its clients and partners. B. Riley operates through several subsidiaries that offer a diverse range of complementary end-to-end capabilities spanning investment banking and institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, risk and compliance, due diligence, forensic accounting, litigation support, appraisal and valuation, auction and liquidation services. For more information, please visit www.brileyfin.com.\nForward-Looking StatementsStatements in this press release that are not descriptions of historical facts are \"forward-looking statements\" are based on management's current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncer...