6 May 2024
We are pleased to announce that we advised Huuuge, Inc. (the “Company” or “Huuuge”) on a share buyback pursuant to a limited-time invitation to submit to the Company sale offers relating to shares in the Company at a price of USD 9.8042 (PLN 38.50) per share. The Company acquired 7,139,797 own common shares representing 10.64% of its share capital, for a total consideration of USD 70 million.
The Company acquired the shares under a share buyback programme with the intention of retiring the shares, other than those shares necessary, in the Company’s view, to satisfy its ongoing needs under the Company’s employee stock option plans.
“We would like to extend hearty congratulations to Huuuge and its shareholders. We would also like to thank the entire team, especially team leader Michał Litwinowicz, as well as Marek Chwałek, Magdalena Ćwik-Burszewska and Monika Kierepa, for their great cooperation and trust,’ says Filip Leśniak, a partner and co-head of the Equity Capital Markets practice.
Rymarz Zdort Maruta would also like to congratulate and thank Ipopema Securities S.A. team, in particular Mariusz Piekarski, Małgorzata Jurczak, Marcin Bańkowski and Mariusz Kociszewski, for their cooperation.
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 Rymarz Zdort Maruta transaction team included: Filip Leśniak (partner) and Patrycja Gliwka (associate). With respect to tax aspects, support was provided by Piotr Zawacki (counsel).
Support concerning US law aspects was provided by attorneys from the US law firm Freshfields Bruckhaus Deringer, namely: Doug Smith (a partner in the global transactions group and co-head of the international capital markets practice), Joe Soltis (tax partner), Hannah Golden (associate) and Kevin Meehan (associate).
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