DoubleDown Interactive aims to raise $126.3m as US IPO launches

The business offered 5,263,000 in American depositary shares (ADSS) – each made up of 20 common shares – as part of the IPO, while an unnamed selling shareholder also offered 1,053,000 ADSs.

The estimated price range per ADS is $18 to $20, meaning if DoubleDown was able to sell all the ADSs as planned, it could raise as much as $126.3m.

Riley Securities acted as the sole bookrunner for the proposed offering, while CBRE and Northland Capital Markets served as co-managers.

DoubleDown had been planning for the IPO for some time, last month revealing that it had filed for the IPO on the Nasdaq exchange.

Read the full story on iGB North America.

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