WEBTOON Entertainment Files for IPO

Ticker: WBTN · Form: S-1 · Filed: May 31, 2024 · CIK: 1997859

Webtoon Entertainment Inc. S-1 Filing Summary
FieldDetail
CompanyWebtoon Entertainment Inc. (WBTN)
Form TypeS-1
Filed DateMay 31, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$2.8 billion, $48,000, $1 million
Sentimentneutral

Sentiment: neutral

Topics: ipo, registration-statement, sec-filing

TL;DR

WEBTOON Entertainment files S-1 for IPO, get ready for potential new stock.

AI Summary

WEBTOON Entertainment Inc., incorporated in Delaware, filed an S-1 registration statement with the SEC on May 31, 2024. The company, with principal offices at 5700 Wilshire Blvd., Los Angeles, CA, is seeking to go public. The filing includes details about its business, financial information, and the terms of the offering, though specific dollar amounts for the offering are not yet detailed in this initial filing.

Why It Matters

This S-1 filing marks a significant step for WEBTOON Entertainment as it prepares to become a publicly traded company, potentially impacting the digital content and entertainment industries.

Risk Assessment

Risk Level: medium — As a company pursuing an IPO, there are inherent market and execution risks associated with going public and establishing a market valuation.

Key Numbers

  • 333-279863 — SEC File Number (Identifies this specific registration filing)
  • 241009554 — Film Number (Internal SEC processing number for the filing)

Key Players & Entities

  • WEBTOON Entertainment Inc. (company) — Registrant
  • 5700 Wilshire Blvd., Suite 220 Los Angeles, CA 90036 (location) — Principal Executive Offices
  • Junkoo Kim (person) — Agent for Service
  • Michael Kim (person) — Legal Counsel
  • Joshua N. Korff (person) — Legal Counsel
  • Edward J. Lee (person) — Legal Counsel
  • Kirkland & Ellis LLP (company) — Legal Counsel

FAQ

What is the primary purpose of this S-1 filing?

The S-1 filing is a registration statement required by the SEC for companies planning to offer securities to the public, in this case, WEBTOON Entertainment Inc. is registering its shares for an initial public offering (IPO).

When was this S-1 filing submitted to the SEC?

The S-1 filing was submitted to the Securities and Exchange Commission on May 31, 2024.

Where are WEBTOON Entertainment Inc.'s principal executive offices located?

WEBTOON Entertainment Inc.'s principal executive offices are located at 5700 Wilshire Blvd., Suite 220, Los Angeles, CA 90036.

Who is listed as an agent for service for WEBTOON Entertainment Inc. in this filing?

Junkoo Kim is listed as the agent for service for WEBTOON Entertainment Inc.

Which law firm is representing WEBTOON Entertainment Inc. for legal counsel in this filing?

Kirkland & Ellis LLP is listed as providing legal counsel, with specific individuals Michael Kim, Joshua N. Korff, and Edward J. Lee mentioned.

Filing Stats: 4,604 words · 18 min read · ~15 pages · Grade level 13.1 · Accepted 2024-05-31 16:02:57

Key Financial Figures

  • $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 26 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS 74

USE OF PROCEEDS

USE OF PROCEEDS 77 DIVIDEND POLICY 78 CAPITALIZATION 79

MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS

MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 83

BUSINESS

BUSINESS 121 MANAGEMENT 203

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 210 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 220 PRINCIPAL STOCKHOLDERS 224

DESCRIPTION OF CAPITAL STOCK

DESCRIPTION OF CAPITAL STOCK 226 SHARES ELIGIBLE FOR FUTURE SALE 235 MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS FOR NON-U.S. HOLDERS OF OUR COMMON STOCK 240

UNDERWRITING

UNDERWRITING 244 LEGAL MATTERS 250 EXPERTS 250 WHERE YOU CAN FIND ADDITIONAL INFORMATION 250 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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