DDI News & Events

Four Tree Island Advisory, a top-10 shareholder of DoubleDown Interactive Co. based on public information, called on the special committee of DDI's board of directors to reject DoubleU Games' proposal to acquire the remaining publicly held ADSs for $11.25 per ADS, stating "we believe the proposed transaction materially undervalues DDI and fails to reflect both the Company's current operating performance and its forward earnings power."

DoubleDown confirmed receipt of a non-binding expression of interest from DoubleU Games, the company's controlling shareholder holding approximately 67.1% of the company's outstanding common shares, to acquire all of the outstanding common shares of the company, other than common shares and/or ADSs held by DUG, for $11.25 per ADS in cash. In response to the proposal, the board of directors of DoubleDown formed a special committee composed solely of independent and disinterested directors to review, evaluate and negotiate the proposal and to determine the next steps that would be in the best interests of the company and its unaffiliated shareholders. The special committee is expected to retain independent legal and financial advisors to assist it in its review of and deliberations regarding the proposal.