Take-Two Interactive Software - TTWO STOCK NEWS

Take-Two Interactive Software announced the expiration of cash tender offers to repurchase outstanding convertible senior notes from its subsidiary, Zynga. The offers for the 2024 Notes saw only 0.039% tendered, while a significant 96.64% of the 2026 Notes were repurchased. A total of $668.315 million of the 2024 Notes were surrendered for conversion, indicating strong investor participation. The company will spend approximately $1.11 billion to repurchase these notes, leaving $21.419 million and $29.358 million of the 2024 and 2026 Notes outstanding, respectively.

2K and Gearbox Software announced the Steam release of Tiny Tina’s Wonderlands® at 10:00 a.m. PDT on June 23, 2022. This title has been highly anticipated, consistently ranking among the most wishlisted games on Steam. With crossplay functionality across multiple platforms, including PS5, PS4, Xbox One, and the Epic Games Store, players will enjoy shared experiences. The game launches with a special price and a Golden Hero Armor Pack bonus until July 7, 2022. The forthcoming Molten Mirrors DLC promises new challenges and rewards for players.

Private Division and Roll7 have launched OlliOlli World: VOID Riders, a new expansion for the popular skateboarding game, now available on multiple platforms including PlayStation, Xbox, Nintendo Switch, and PC. This expansion introduces new characters, challenges, and customization options, enhancing the gaming experience. Priced at $9.99, it can be purchased individually or as part of the Rad Edition for $44.99, which includes additional content. The expansion aims to engage players with quirky alien themes and innovative gameplay mechanics.

2K and Supermassive Games have launched The Quarry, a teen-horror narrative game, now available worldwide on various platforms including PS5, PS4, Xbox Series X|S, Xbox One, and PC via Steam. Players control nine teenage counselors at Hackett's Quarry, where every choice has consequences. The game features a star-studded cast and innovative storytelling. A free trial of the prologue is available. The game is offered in Standard Edition for $59.99 and Deluxe Edition for $69.99 to $79.99, with unique features tailored for different experiences.

Marvel's Midnight Suns is now available for pre-order, launching on October 7, 2022. Developed by Firaxis Games, this tactical RPG explores the darker side of the Marvel Universe. Players will lead a unique team, including iconic heroes like Doctor Strange and Iron Man, to combat Lilith and her demonic forces. The game will be available on multiple platforms including PlayStation 5, Xbox Series X|S, and Windows PC. Various editions are offered, ranging from $59.99 to $99.99, with a Season Pass for post-launch content.

Rollerdrome will launch on August 16, 2022, for digital download on PlayStation 4, PlayStation 5, and PC. This single-player, third-person shooter combines fluid movement and stylish tricking with intense shooter action set in a dystopian future. Developed by Roll7, known for OlliOlli World, the game features a unique art style and an original soundtrack by Electric Dragon. It follows the character Kara Hassan as she competes in the brutal sport of Rollerdrome, aiming to become the champion while navigating a sinister political backdrop.

Take-Two Interactive Software, Inc. announced that its subsidiary Zynga Inc. has initiated tender offers for the repurchase of outstanding 0.25% Convertible Senior Notes due 2024 and 0% Convertible Senior Notes due 2026. This action follows a recent merger transaction that constitutes a Fundamental Change under the Notes' indentures. Noteholders can require Zynga to repurchase their Notes at 100% of the principal amount plus accrued interest or convert them into shares of Take-Two common stock. The tender offers will expire on June 22, 2022.

Take-Two Interactive Software (NASDAQ: TTWO) has officially completed its merger with Zynga, with Zynga stockholders receiving $3.50 in cash and 0.0406 shares of Take-Two stock per Zynga share. The merger aims to significantly boost mobile revenues, which is a rapidly growing sector in gaming, and to generate cost synergies. Both CEOs expressed excitement about combining their strengths to enhance creativity and operational execution. The merger is expected to enhance Take-Two’s financial profile through increased scale and profitability, ultimately benefiting shareholders.

Take-Two Interactive Software (NASDAQ: TTWO) and Zynga (NASDAQ: ZNGA) announced stockholder approval for their merger at separate Special Meetings. The business combination is set to close on May 23, 2022, pending customary conditions, with Zynga shares ceasing to trade on May 20, 2022. Zynga stockholders will receive $3.50 in cash plus 0.0406 shares of Take-Two stock for each Zynga share. This merger aims to create a robust portfolio, enhancing both companies' positions in the gaming market and focusing on mobile games.