Take-Two Interactive Software Announced An Underwritten Public Secondary Offering Of 2,830,084 Shares Held By Embracer Group Issued To The Selling Shareholder On June 11, 2024 In Relation To The Gearbox Entertainment Acquisition Closure
Portfolio Pulse from Benzinga Newsdesk
Take-Two Interactive Software announced an underwritten public secondary offering of 2,830,084 shares held by Embracer Group. These shares were issued to Embracer Group on June 11, 2024, in relation to the closure of the Gearbox Entertainment acquisition.
June 12, 2024 | 10:20 am
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Take-Two Interactive Software is conducting a secondary offering of 2,830,084 shares held by Embracer Group. This move is related to the Gearbox Entertainment acquisition closure.
The secondary offering of shares could lead to a short-term decrease in TTWO's stock price due to the potential increase in share supply. However, the long-term impact will depend on how the market perceives the strategic benefits of the Gearbox Entertainment acquisition.
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