share_log

Take-Two Interactive Software | 8-K: Current report

SEC announcement ·  Apr 1 16:55
Summary by Moomoo AI
On March 27, 2024, Take-Two Interactive Software, Inc. (Take-Two), a leading video game company, announced the signing of a Share Purchase Agreement to acquire The Gearbox Entertainment Company, Inc. (Gearbox), a subsidiary of Gearbox Entertainment Company Holding AB and Embracer Group AB. The acquisition, valued at $460 million, will be paid in newly issued Take-Two common stock. The transaction is subject to customary closing conditions, including regulatory approvals and the absence of any governmental orders preventing the deal. The closing is scheduled to occur after the satisfaction of these conditions and following Take-Two's fiscal year earnings announcement for the year ending March 31, 2024. The agreement also includes provisions for post-closing price adjustments and certain termination rights, with a deadline set for September 27, 2024. Additionally, Take-Two has committed to filing a registration statement with the SEC for the resale of the common stock issued to Gearbox Seller. This strategic acquisition is expected to enhance Take-Two's portfolio and market position in the gaming industry.
On March 27, 2024, Take-Two Interactive Software, Inc. (Take-Two), a leading video game company, announced the signing of a Share Purchase Agreement to acquire The Gearbox Entertainment Company, Inc. (Gearbox), a subsidiary of Gearbox Entertainment Company Holding AB and Embracer Group AB. The acquisition, valued at $460 million, will be paid in newly issued Take-Two common stock. The transaction is subject to customary closing conditions, including regulatory approvals and the absence of any governmental orders preventing the deal. The closing is scheduled to occur after the satisfaction of these conditions and following Take-Two's fiscal year earnings announcement for the year ending March 31, 2024. The agreement also includes provisions for post-closing price adjustments and certain termination rights, with a deadline set for September 27, 2024. Additionally, Take-Two has committed to filing a registration statement with the SEC for the resale of the common stock issued to Gearbox Seller. This strategic acquisition is expected to enhance Take-Two's portfolio and market position in the gaming industry.
Helpful
Not Helpful

This announcement is a separate document:

Doc 1

Doc 2

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more