Summary
Take-Two Interactive Software, Inc. (TTWO) has filed an 8-K report detailing a secondary public offering of its common stock. On June 12, 2024, Embracer Group AB, the Selling Shareholder, entered into an underwriting agreement with Goldman Sachs & Co. LLC to sell 2,830,084 shares of TTWO's common stock. These shares were recently acquired by Embracer Group as part of Take-Two's acquisition of The Gearbox Entertainment Company, Inc., which closed on June 11, 2024. Importantly, Take-Two Interactive will not receive any proceeds from this sale, as it is a resale of existing shares by the Selling Shareholder. The offering was priced and closed on June 14, 2024. The company also included standard forward-looking statements and references to its SEC filings for a comprehensive understanding of risks and uncertainties.
Key Highlights
- 1Embracer Group AB is selling 2,830,084 shares of Take-Two Interactive common stock.
- 2The shares being offered are a secondary offering, meaning Take-Two Interactive will not receive any proceeds from the sale.
- 3The shares were acquired by Embracer Group as part of the recently closed acquisition of The Gearbox Entertainment Company, Inc.
- 4The underwriting agreement was entered into on June 12, 2024, with Goldman Sachs & Co. LLC acting as the underwriter.
- 5The offering was registered on Form S-3 and the final prospectus supplement was filed on June 12, 2024.
- 6The closing of the offering occurred on June 14, 2024.
- 7The filing includes a press release announcing the pricing of the offering by the Selling Shareholder.