“Grand Theft Auto” publisher Take-Two Interactive is planning to sell off $1 billion of its common stock.
In addition to the public offering, which was announced Tuesday, the video game giant will give underwriters a 30-day option to purchase up to an additional $150 million of shares. The offering is subject to market conditions.
Per the company, “Take-Two intends to use the net proceeds for general corporate purposes, which may include the repayment of outstanding debt and future acquisitions.”
Take-Two shares were down nearly 3% in after-hours trading Tuesday.
More to come…
variety.com
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