DoubleDown targets $91.4m proceeds as long-awaited IPO moves ahead
| By Daniel O'Boyle
DoubleU subsidiary DoubleDown Interactive has filed for its initial public offering (IPO) on the Nasdaq exchange, from which it expects to receive proceeds of $91.4m.
The business said the offering would begin “as soon as possible” after the filing is approved. It will trade under the ticker symbol DDI.
It will offer 315,800 common shares, each made up of 20 American Depositary Shares (ADS), or 6.3 million ADS in total.
Each ADS is set to be priced at between $18 and $20, resulting in offering proceeds between $113.7m and $145.3m. DoubleDown said that, assuming a price in the midpoint of this range and after deducting listing costs and fees to underwriters, it expects to earn $91.4m from the IPO process.