PLAYSTUDIOS, Inc (MYPS) to Purchase Shares Owned by Microsoft

PLAYSTUDIOS, Inc. (Nasdaq: MYPS) (“PLAYSTUDIOS” or the “Company”), the creator of the playAWARDS loyalty platform and an award-winning developer of free-to-play mobile and social games that offer real-world rewards to players, today announced the company has entered into an agreement to purchase the 11,677,398 shares of the Company’s Class A common stock held by Microsoft Corporation.

Shares will be purchased at a price of $2.11 per share and funded with available cash. Total consideration paid by PLAYSTUDIOS will be $24.6 million. The repurchase will reduce the number of shares of the Company’s outstanding common stock by approximately 8.6%.

Andrew Pascal, the Company’s Chairman and CEO commented, “Since becoming a public company, PLAYSTUDIOS has demonstrated a commitment to enhancing shareholder value and maximizing our returns on capital. Purchasing the shares held by Microsoft is a further example of this as we were able to efficiently repurchase 8.6% of our outstanding common stock at a discount to current market prices.”

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