Information on completed public offering
Huuuge, Inc. (the “Issuer”) is hereby publishing information on the completed public offering (the “Offering”) of 33,316,686 shares of common stock in the Issuer (the “Offer Shares”), including: (i) a public sale of 22,016,586 existing shares of common stock with a nominal value of USD 0.00002 each (the “Sale Shares”) by Big Bets OÜ with its registered office in Tallinn, Korea Investment Global Contents Fund with its registered office in Seoul, Naver KIP Cheer up! Gamers Fund with its registered office in Seoul, Woori Technology Investment CO., Ltd. with its registered office in Seoul, Seoul IP Growth Industry Venture Fund with its registered office in Seoul, Seoul Investment Patent Venture Fund with its registered office in Seoul and RPII HGE LLC with its registered office in Wilmington (the “Offerors”); and (ii) a public subscription of 11,300,100 newly issued shares of common stock in the Issuer (the “New Shares” and jointly with the Sale Shares, the “Offer Shares”).
All capitalized terms not defined in this current report have the meanings assigned to them in the Issuer’s prospectus approved by the Polish Financial Supervision Authority (Komisja Nadzoru Finansowego) on January 26, 2021 (the “Prospectus”), together with the supplements, errata and update reports.
1. Start and end dates of the subscription or sale
Start and end dates of subscriptions for the Retail Investors: January 28 – February 3, 2021.
Start and end dates of subscriptions for the Institutional Investors: January 27, 2021 – February 4, 2021.
2. Date of allotment of securities
February 10, 2021
3. Number of securities subscribed for or sold
33,316,686 Offer Shares, including 22,016,586 Sale Shares and 11,300,100 New Shares.
4. Reduction rate
The reduction covered only subscriptions for the New Shares offered to the Retail Investors. The reduction rate for subscriptions made by the Retail Investors was 96.96%.
5. Number of securities subscribed for in subscription or sale
In the Offering, subscriptions were submitted for 86,388,521 Offer Shares in total, including subscriptions for 54,737,669 Offer Shares submitted by the Retail Investors and subscriptions for 31,650,852 Offer Shares submitted by the Institutional Investors.
6. Number of securities allotted in the subscription or sale
In connection with the Offering, the Issuer allotted 33,316,686 Offer Shares, i.e., 11,300,100 New Shares and 22,016,586 Sale Shares, in the following manner: (i) 1,665,834 Offer Shares were allotted to the Retail Investors, with the Retail Investors being allotted the New Shares only; (ii) 31,650,852 Offer Shares were allotted to the Institutional Investors, with Institutional Investors being allotted both the Sale Shares and New Shares.
7. Price at which the securities were taken up (purchased)
The Offer Shares were purchased at the maximum price indicated in the Prospectus, i.e., PLN 50 per Offer Share.
8. Number of persons who have subscribed for the securities in subscription or sale
Subscriptions for the Offer Shares were submitted by 20,329 Retail Investors and 125 Institutional Investors.
9. Number of persons to whom the securities were allotted in subscription or sale
In connection with the Offering, the Issuer allotted the Offer Shares to 20,329 Retail Investors and 125 Institutional Investors.
10. The names of the underwriters who have subscribed for securities in execution of the underwriting agreements, with an indication of the number of securities which they have subscribed for, together with the actual price per unit of the security, being the issue or sale price, after deducting the consideration for subscribing for a unit of the security, in execution of the underwriting agreement, purchased by the underwriter
Underwriters did not acquire any shares in the Issuer in performance of the Underwriting Agreement.
11. The value of subscription or sale
The value of the New Shares subscription, understood as the product of the number of the New Shares offered and the issue price of the New Shares, was PLN 565,005,000.
The value of the Sale Shares subscription, understood as the product of the number of the Sale Shares offered and the sale price of the Offer Shares, was PLN 1,100,829,300.
The total value of the Offering was PLN 1,665,834,300.
12. The amount of total costs that have been included in the cost of issuance
As at the date of this report, the Issuer does not have information about the final settlement of the issue costs. Those costs will be published in the form of a current report after receiving a breakdown and approval of all costs from all the entities involved in the work on preparation and completion of the Offering.
13. The average cost of conducting the subscription or sale per unit of the security covered by the subscription or sale
As at the date of this report, the Issuer does not have information about the final settlement of the issue costs and consequently the average sale cost per Offer Share is not known. Those costs will be published in the form of a current report after receiving a breakdown and approval of all costs from all the entities involved in the work on preparation and completion of the Offering.
14. Method of payment for taken up (purchased) securities
The Offer Shares were paid for in cash.
Legal basis: §16 of the Regulation of the Minister of Finance dated March 29, 2018, on current and periodic information provided by issuers of securities and conditions for recognizing as equivalent information required by the laws of a non-member state.