WEBTOON Entertainment Announces Launch of Initial Public Offering Roadshow
WEBTOON Entertainment Inc. (“WEBTOON” or the “Company”), a leading global entertainment company and home to some of the world’s largest storytelling platforms, today announced that it has launched the roadshow for the initial public offering of its common stock. WEBTOON is offering 15,000,000 of its common stock.
The initial public offering price is expected to be between $18 and $21 per share. WEBTOON also intends to grant the underwriters a 30-day option to purchase up to an additional 2,250,000 shares of common stock.
WEBTOON has applied to list its common stock on the Nasdaq Global Select Market under the ticker symbol “WBTN”.
Goldman Sachs & Co. LLC and Morgan Stanley are acting as lead bookrunning managers for the proposed offering. J.P. Morgan and Evercore ISI are acting as active bookrunning managers for the proposed offering. Deutsche Bank Securities, UBS Investment Bank and HSBC are acting as joint bookrunning managers. Raymond James and LionTree are acting as co-managers.
The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus relating to the proposed offering, when available, may be obtained by visiting EDGAR on the website of the Securities and Exchange Commission (the “SEC”) at www.sec.gov, or from any of the following sources:
Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 1-866-471-2526 or by email at prospectus-ny@ny.email.gs.com
Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or by email at prospectus@morganstanley.com
J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com
Evercore Group L.L.C., Attn: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888) 474-0200, or by email at ecm.prospectus@evercore.com
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. The offering is subject to market and other conditions and the completion of the SEC’s review process.