Summary by Futu AI
Take-Two Interactive Software, Inc. has completed the acquisition of The Gearbox Entertainment Company, Inc., as reported in an amended Form 8-K/A filed with the SEC. The acquisition, initially announced on March 27, 2024, was finalized on June 11, 2024, with Take-Two issuing 2,830,084 unregistered shares of its common stock to Gearbox's parent company, Embracer Group AB. The number of shares was determined based on the volume weighted average closing price of Take-Two's common stock on the Nasdaq Global Select Market for the five trading days preceding the closing date, adjusted for cash, indebtedness, transaction expenses, and working capital. The shares issued to Gearbox Parent are unregistered and were issued in reliance on an exemption from registration under Section 4(a)(2) of the Securities Act of 1933.