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THQ Goes Public

14 Nov, 2001 By: John Gaudiosi


Calabasas, Calif.-based video game publisher THQ Inc. commenced a public offering of 2,750,000 shares of its common stock (excluding the underwriters' over-allotment option of 412,500 shares) at $53.50 per share. All of these shares are being sold by the company.

The underwriters for the offering are Credit Suisse First Boston Corp., who is acting as sole book-running manager, and Goldman, Sachs Co., U.S. Bancorp Piper Jaffray Inc., Gerard Klauer Mattison & Co., Inc. and Jefferies & Company Inc.

After dominating the Game Boy market for years, THQ has had enormous success with console games thanks to its exclusive video game licensing deal with Nickelodeon and the World Wrestling Federation.

In addition to WWF games and titles based on December’s theatrical Jimmy Neutron: Boy Genius, Nick’s “Rugrats,” “The Wild Thornberrys” and “Rocket Power,” THQ has a diverse portfolio that includes the mission-based action-adventure snowboarding game, Dark Summit, the first-person shooter set on Mars, Red Faction, a slate of new Tetris games, beginning with Tetris Worlds, and new games starring “Scooby Doo.” THQ’s Wireless Division recently acquired the rights to 50 classic Intellivision games to port to wireless phones and personal digital assistants (PDAs).

The company is also expected to close its acquisition of video game and animation studio, Rainbow Studios, in the next few weeks, which will give it a premiere video game developer, which is also working on big-screen CGI projects like Teenage Mutant Ninja Turtles and Mighty Mouse.


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