M&A
confidence high
sentiment positive
materiality 0.80
WEBTOON invests KRW 150B in RI Games Holdings; Q2 revenue down 2.8%
WEBTOON Entertainment Inc.
- Agreement to acquire up to 9,000 shares of RI Games Holdings for KRW 150,000,003,000; two closings; post-closing ~60% ownership.
- First closing: 2,999 shares for KRW 49,983,334,333; second closing 6,001 shares for KRW 100,016,668,667, contingent on a commercial launch milestone.
- Shareholders Agreement: up to KRW 50B capital increases; put/call based on KRW 250B revenue target by Jun 30, 2030.
- Q2 revenue $338.5M (-2.8% YoY), constant currency $366.4M (+5.2%); net loss $14.6M vs $3.9M; Adj EBITDA $5.5M vs $9.7M.
- Q3 guidance: revenue $358-368M, Adj EBITDA $0-5M; cash $583.1M + $11.2M deposits, no debt.