Games Global Limited (“Games Global” or “the Company”) today announced that it has postponed its previously announced initial public offering in the United States. While investor interest was strong, given the continued positive performance of the Company’s underlying business and anticipated trajectory following its recent entry to the U.S. gaming market earlier this year, the Company’s Board of Directors believes it is in the best interests of its stakeholders to delay the offering at this time and will continue to monitor the timing for the proposed offering. The Company will continue to evaluate all strategic opportunities that align with the Company’s long-term strategy.
“While we are disappointed not to be entering the public markets in the near term, meeting with investors during this IPO process has further cemented our confidence in our strategy and that what we are building at Games Global is unique,” said Walter Bugno, CEO of Games Global. “With a strong balance sheet, healthy margins, and meaningful growth, an IPO at this point in time was an accelerator, not an absolute necessity, for our business strategy,” continued Bugno. “Our team remains committed to delivering the most innovative games on the market. We will continue to monitor the capital markets going forward and make the appropriate reconsiderations as to an IPO in the future.”
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
In any member state of the European Economic Area (the "EEA") this announcement, and the offering, are only addressed to and directed at persons who are "qualified investors" ("Qualified Investors") within the meaning of Regulation (EU) 2017/1129 (the “Prospectus Regulation”). In the United Kingdom, this announcement, and the offering, are only addressed to and directed at persons who are “qualified investors” within the meaning of the Prospectus Regulation as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), (ii) are high net worth entities who fall within Article 49(2)(a) to (d) of the Order, or (iii) are persons to whom it may otherwise lawfully be communicated (all such persons being referred to as "relevant persons"). This announcement must not be acted on or relied on (i) in the United Kingdom, by persons who are not relevant persons, and (ii) in any member state of the EEA, by persons who are not Qualified Investors. Any investment or investment activity to which this announcement relates is available only to and will only be engaged with (i) in the United Kingdom, relevant persons, and (ii) in any member state of the EEA, Qualified Investors.
The proposed offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to this offering may be obtained from:
- J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at prospectus-eq_fi@jpmchase.com or postsalemanualrequests@broadridge.com;
- Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by phone at (877) 821-7388, or by email at prospectus_department@jefferies.com; or
- Macquarie Capital (USA) Inc., Attention: Equity Syndicate Department, 125 West 55th Street, New York, NY 10019, or by email at MacquarieEquitySyndicateUSA@macquarie.com