Take-Two Interactive Software, Inc. has announced the pricing of an underwritten public offering of 4,750,000 shares of its common stock at a price of $225.00 per share. The company has also granted the underwriters a 30-day option to purchase up to 712,500 additional shares of its common stock. The expected net proceeds of the offering after expenses are approximately $1.04 billion, which may be used for general corporate purposes, including the repayment of outstanding debt and potential future acquisitions.
J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC are acting as lead bookrunning managers for the offering, with Wells Fargo Securities, BofA Securities, and BNP Paribas acting as joint bookrunning managers.
The press release also states that the offering of these securities is being made pursuant to Take-Two's effective shelf registration statement on Form S-3, previously filed with the Securities and Exchange Commission on February 7, 2025.
As of the closing date, the net proceeds from the offering may increase to approximately $1.19 billion if the underwriters exercise their option in full.
About Take-Two Interactive Software: Take-Two Interactive Software, Inc. is headquartered in New York City and is a leading developer, publisher, and marketer of interactive entertainment globally. The company's products are designed for console gaming systems, mobile devices, and PC, and are delivered through various channels including physical retail, digital download, online platforms, and cloud streaming services. The company's common stock is publicly traded on NASDAQ under the symbol TTWO. As a result of these announcements, the company's shares have moved -0.2% on the market, and are now trading at a price of $226.295. Check out the company's full 8-K submission here.
