Playtika Announces Commencement of Tender Offer to Purchase up to 51,813,472 Shares of its Common Stock

About this update from Playtika Holding Corp.

[{"type":"text","content":"HERZLIYA, Israel, Aug. 29, 2022 /PRNewswire/ -- Playtika Holding Corp. (NASDAQ: PLTK) (\"Playtika\"), a mobile gaming entertainment and technology market leader with a portfolio of multiple game titles, today announced that it has commenced a tender offer for the purchase of up to 51,813,472 shares of Playtika's issued and outstanding common stock, par value $0.01 per share (each, a \"Share,\" and collectively, \"Shares\") or such lesser number of Shares as are properly tendered and not properly withdrawn, at a price of $11.58 per Share, to be paid to the seller in cash less any applicable withholding taxes, in accordance with the terms and subject to the conditions described in the offer to purchase, the related letter of transmittal and other related materials, as each may be amended or supplemented from time to time.\nThe closing price of the Shares on The Nasdaq Global Select Market on August 26, 2022, the last full trading day before the start of the tender offer, was $10.92 per Share. The tender offer is scheduled to expire one minute after 11:59 P.M., New York City Time, September 26, 2022, unless the offer is extended or terminated.\nThe tender offer is not conditioned on a minimum number of Shares being tendered. The tender offer is subject to certain terms and conditions, including that it may be amended or terminated by Playtika under certain circumstances, which are described in detail in the offer to purchase. Specific instructions and a complete explanation of the terms and conditions of the tender offer are contained in the offer to purchase, the related letter of transmittal and other related materials, which will be mailed to stockholders of record promptly.\nFollowing an extensive review of strategic alternatives by the Special Committee comprised solely of disinterested and independent directors (the \"Special Committee\") of the Board of Directors (the \"Board\") of Playtika, the Special Committee and the Board, based on the facts and circumstances described in the offer to purchase for the tender offer, believe, after reviewing, with management and their respective advisors, Playtika's operations, financial condition, capital needs, strategy, and expectations for the future, and in light of the information provided by Playtika's controlling shareholder group, Playtika Holding UK II Limited, Alpha Frontier Li...

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