We are pleased to announce that we advised Huuuge, Inc. (“Huuuge”) on a share buyback pursuant to a limited-time invitation to submit sale offers relating to shares in the Company at a price of USD 7.8751 per share. The Company acquired 15,237,864 own common shares for a total consideration of USD 120 million.
The total number of shares covered by the submitted sale offers was higher than the number of shares subject to the invitation (i.e. up to 15,237,864 shares), resulting in a proportional reduction in the number of shares covered by the sale offers submitted by shareholders under the terms of the invitation to submit offers. The average reduction rate of the submitted sale offers was 57.04%.
“We would like to extend hearty congratulations to Huuuge and its shareholders. We would like to thank the entire client team for their excellent cooperation and for placing their trust in us once again” says Filip Leśniak, a partner and co-head of the Equity Capital Markets practice.
We would also like to congratulate the team at Ipopema Securities S.A. for the very efficient settlement of the transaction.
Huuuge, Inc. is a global developer and publisher of free-to-play games for mobile devices and online platforms. The Company was established under Delaware (USA) law and is best known for social casino games.
The work of Rymarz Zdort Maruta’s team was managed by Filip Leśniak (a partner and co-head of the Equity Capital Markets practice), and the team also comprised Maciej Kowalski (senior associate) and Hanna Szczepańska-Rowicka (associate).
Support on US law aspects of the transaction was provided by Freshfields LLP, comprising: Joe Soltis (tax partner) and Ethan Magid (a counsel in the Capital Markets practice).