DoubleU Games offers $16.25 a share to buy out DoubleDown and take it off Nasdaq

Published 10 Nov 2026 · Games Atlas Editorial · Public Market Event

Games Atlas summary: DoubleU Games is offering DoubleDown's other shareholders $16.25 in cash for each share they hold on Nasdaq. DoubleU already owns about 67% of DoubleDown and wants to buy the remaining third. If the deal closes, DoubleDown leaves Nasdaq and becomes fully owned by DoubleU. DoubleDown's board and its independent directors unanimously advise shareholders to accept.

Deal mechanics

• The offer price of $16.25 per ADS replaces an earlier $11.25 proposal.
• DoubleU Games must secure 95% ownership of DoubleDown's outstanding shares.
• That threshold can drop to 90% with DoubleDown's consent under the agreement.
• More than 50% of ADSs held by unaffiliated holders must also tender.
• DoubleU Games will acquire remaining shares via a second-step transaction under Korea's Commercial Act.

Funding and no financing risk

• DoubleU Games will fund the deal with cash on hand.
• A bridge loan of up to KRW300 billion, about $224 million, backs the offer.
• Korea Investment & Securities acts as mandated lead arranger for that facility.
• The tender offer carries no financing condition under the agreement.

Governance efficiencies from going private

• The agreement anticipates delisting ADSs and ending DoubleDown's SEC reporting obligations.
• DoubleU Games trades on the KRX while DoubleDown trades as Nasdaq ADSs.
• A special committee of independent directors negotiated the price with Kroll's fairness opinion.
• The DoubleDown board and that committee unanimously approved the agreement.

Capital allocation in a consolidating social casino market

• DoubleDown's subsidiary WHOW Games runs social casino operations from Hamburg, Germany.
• Its subsidiary SuprNation operates three real-money iGaming sites in Western Europe.
• Taking DoubleDown fully private would remove minority-shareholder approval steps for capital decisions across these units.
• The majority-of-minority condition still requires over 50% of outside ADS holders to tender.

Sources

• DoubleU Games Commences All-Cash Tender Offer for All ADSs (globenewswire.com)
• DoubleU Games agrees to buy remaining stake in DoubleDown Interactive | PocketGamer.biz (pocketgamer.biz)