DDI · DoubleU Games, which already owns 67.05% of DoubleDown Interactive,…

DoubleU Games, which already owns 67.05% of DoubleDown Interactive, announced a definitive agreement to acquire all remaining ADSs at $16.25 per ADS in cash via a tender offer, replacing a prior proposal. The offer is supported by a special committee of independent directors and the DDI board, and is structured as a going-private transaction. The offer has not yet commenced and is subject to conditions including a minimum tender of 95% (reducible to 90%) and a non-waivable majority-of-minority condition.

• DoubleU Games will launch an all-cash tender offer for all outstanding ADSs of DoubleDown Interactive not already owned, at $16.25 per ADS.
• DoubleU Games currently owns approximately 67.05% of DoubleDown's outstanding common shares.
• The offer is supported by a unanimous recommendation from a special committee of independent directors and the full DDI board.
• The special committee received a fairness opinion from Kroll, LLC (Duff & Phelps Opinions Practice).