On May 20, 2025, Take-Two Interactive Software, Inc. (TTWO, Financial) entered into an underwriting agreement with J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC, acting as representatives of several underwriters. The agreement involves the sale of 4,750,000 shares of the company's common stock at a public offering price of $225.00 per share.
In addition to the initial offering, the company granted the underwriters a 30-day option to purchase up to an additional 712,500 shares. This option was fully exercised by the underwriters on May 21, 2025, demonstrating strong demand for the company's stock.
The underwriting agreement includes customary representations, warranties, and indemnification provisions, ensuring protection against certain liabilities under the Securities Act of 1933. The shares are being offered under an effective registration statement filed with the Securities and Exchange Commission on February 7, 2025, and supplemented by a prospectus dated May 20, 2025.
The transaction successfully closed on May 22, 2025, marking a significant capital-raising event for Take-Two Interactive Software. The company issued a press release on May 20, 2025, to announce the pricing of the offering, highlighting its strategic move to leverage opportunities in the gaming industry, including popular titles like NBA 2K and Grand Theft Auto.
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