(AOF) – Atari, Wade Rosen, its CEO and Irata LLC, a company controlled by the latter, reached an agreement on September 25, 2022 for the filing by Irata of a friendly tender offer for Atari shares, at a price of 0.19 euro per Atari share. Atari’s board of directors unanimously welcomed the proposed transaction, which would support the group’s strategy. The offer would also allow Atari shareholders who so wish to obtain immediate liquidity with a premium on the share price.
The offer price values 100% of the company’s shares at 72.7 million euros and represents a premium of 45.6% on the Atari share price at the close of the market on September 22, 2022.
At the end of the offer, Irata does not intend to request the implementation of a squeeze-out targeting the Atari shares or to request their delisting.
Irata directly and indirectly holds 21.37% of the capital and 21.18% of the voting rights of Atari.
The proposed offer is in line with the desire of Irata and Wade Rosen, CEO of the company, to support the development of Atari by acquiring, in a friendly and voluntary manner, control of the Company in order to support its strategy aimed at extend the Atari ecosystem in its four activities: games, hardware, license and blockchain.
The offer should have no impact on Atari’s workforce or governance.
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