DoubleDown Interactive, a leading developer and publisher of mobile- and web-based social casino games, officially withdrew its registration statement for an initial public offering on Thursday. It had filed to raise $86 million in June 2020 at a market cap of $777 million, before postponing the offering.
DoubleDown Interactive disclosed in its request for withdrawal that it intends to file a new registration statement relating to the contemplated public offering.
J.P. Morgan, BofA Securities, and Macquarie Capital were set to be the joint bookrunners during its 2020 IPO attempt, however in the post-effective amendment it filed last week, the offering was being led by B. Riley Securities and Macquarie Capital.
The Seoul, South Korea-based company was founded in 2008 and booked $358 million in revenue for the 12 months ended December 31, 2020. It had planned to list on the Nasdaq under the symbol DDI.
