WEBTOON Entertainment Inc. Files IPO Registration Amendment

Ticker: WBTN · Form: S-1/A · Filed: Jun 17, 2024 · CIK: 1997859

Webtoon Entertainment Inc. S-1/A Filing Summary
FieldDetail
CompanyWebtoon Entertainment Inc. (WBTN)
Form TypeS-1/A
Filed DateJun 17, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$18.00, $21.00, $50 million, $19.50, $2.8 billion
Sentimentneutral

Sentiment: neutral

Topics: ipo, registration, sec-filing

TL;DR

WEBTOON files IPO docs, get ready for public trading.

AI Summary

WEBTOON Entertainment Inc. filed an S-1/A amendment on June 17, 2024, detailing its registration statement for an initial public offering. The company, incorporated in Delaware, has its principal executive offices at 5700 Wilshire Blvd., Suite 220, Los Angeles, CA 90036. The filing includes information for SEC File Number 333-279863.

Why It Matters

This S-1/A filing is a crucial step for WEBTOON Entertainment Inc. as it moves closer to becoming a publicly traded company, potentially impacting the digital content and entertainment markets.

Risk Assessment

Risk Level: medium — As a company pursuing an IPO, there are inherent risks associated with market reception, valuation, and future performance that are not yet fully disclosed.

Key Numbers

  • 333-279863 — SEC File Number (Identifies the registration statement with the SEC.)
  • 1231 — Fiscal Year End (Indicates the company's fiscal year concludes on December 31st.)

Key Players & Entities

  • WEBTOON Entertainment Inc. (company) — Registrant
  • Junkoo Kim (person) — Contact Person for WEBTOON Entertainment Inc.
  • Michael Kim (person) — Legal Counsel
  • Joshua N. Korff (person) — Legal Counsel
  • Edward J. Lee (person) — Legal Counsel
  • Kirkland & Ellis LLP (company) — Legal Counsel
  • 333-279863 (dollar_amount) — SEC File Number

FAQ

What is the purpose of this S-1/A filing?

This is an amendment to the initial S-1 registration statement filed by WEBTOON Entertainment Inc. to provide updated information for its proposed initial public offering.

When was this amendment filed with the SEC?

The amendment was filed on June 17, 2024.

Where is WEBTOON Entertainment Inc. headquartered?

The company's principal executive offices are located at 5700 Wilshire Blvd., Suite 220, Los Angeles, CA 90036.

Who are the legal representatives for WEBTOON Entertainment Inc. in this filing?

Kirkland & Ellis LLP, with specific mention of Michael Kim, Joshua N. Korff, and Edward J. Lee, are listed as copies to for legal counsel.

What is the SEC File Number associated with this registration?

The SEC File Number is 333-279863.

Filing Stats: 4,613 words · 18 min read · ~15 pages · Grade level 12.8 · Accepted 2024-06-17 07:38:23

Key Financial Figures

  • $18.00 — ffering price per share will be between $18.00 and $21.00. We have applied to list our
  • $21.00 — ce per share will be between $18.00 and $21.00. We have applied to list our common sto
  • $50 million — est in purchasing up to an aggregate of $50 million in shares of our common stock in this o
  • $19.50 — on the initial public offering price of $19.50 per share, which is the midpoint of the
  • $2.8 billion — ite creators. WEBTOON has paid out over $2.8 billion to creators from 2017 to 2023. The aver
  • $48,000 — average professional creator is earning $48,000 a year and the top 100 are earning $1 m
  • $1 million — ,000 a year and the top 100 are earning $1 million. Many stories have also become global f

Filing Documents

RISK FACTORS

RISK FACTORS 28 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS 76

USE OF PROCEEDS

USE OF PROCEEDS 79 DIVIDEND POLICY 80 CAPITALIZATION 81

MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS

MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 85

BUSINESS

BUSINESS 123 MANAGEMENT 206

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 213 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 223 PRINCIPAL STOCKHOLDERS 227

DESCRIPTION OF CAPITAL STOCK

DESCRIPTION OF CAPITAL STOCK 229 SHARES ELIGIBLE FOR FUTURE SALE 238 MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS FOR NON-U.S. HOLDERS OF OUR COMMON STOCK 243

UNDERWRITING

UNDERWRITING 247 LEGAL MATTERS 253 EXPERTS 253 WHERE YOU CAN FIND ADDITIONAL INFORMATION 253 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F-1 Through and including, 2024 (the 25th day after the date of this prospectus), all dealers effecting transactions in these securities, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to a dealers obligation to deliver a prospectus when acting as an underwriter and with respect to an unsold allotment or subscription. Neither we nor any of the underwriters have authorized anyone to provide any information or to make any representations other than those contained in this prospectus, any amendment or supplement to this prospectus or any free writing prospectus prepared by us or on our behalf. We and the underwriters take no responsibility for, and cannot assure you as to the reliability of, any other information that others may give you. This prospectus is an offer to sell only the shares of our common stock offered hereby, but only under circumstances and in jurisdictions where it is lawful to do so. The information contained in this prospectus is current only as of the date of this prospectus, regardless of the time of delivery of this prospectus or of any sale of shares of our common stock. Our business, results of operations, financial condition or prospects may have changed since that date. Neither we nor any of the underwriters have done anything that would permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than in the United States (U.S.). Persons outside the U.S. who come into possession of this prospectus must inform themselves about, and observe any restrictions relating to, the offering of the shares of our common stock and the distribution of this prospectus outside the U.S. Pursuant to the laws of South Korea (Korea), we have filed with the Financial

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