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CURRENT REPORT
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Item 8.01 Other Events.
In November 2019, Playtika Holding Corp. (the “Company”), through its subsidiary, Playtika UK House of Fun Limited (“Playtika UK”), acquired InseytAI SA (“InseytAI”) from its sole shareholder, Yair Erez (the “Seller”) for an aggregate purchase price of approximately $13.7 million (the “Transaction”). On August 23, 2022, Ron Korczak, who served as a director of Playtika UK at the time of the Transaction, and brother of the Company’s Chief Marketing Officer, Nir Korczak, informed the Company that he is entitled to approximately $11.9 million from the Seller in connection with the Transaction due to financing arrangements provided by Ron Korczak in order to fund InseytAI prior to the Transaction (the “Financing Arrangement”). The Company was not previously informed of the Financing Arrangement, and had received customary representations from the Seller at the time of the Transaction regarding InseytAI, including that the Seller was the sole owner of InseytAI. The Audit Committee of the Board of Directors of the Company (the “Audit Committee”) engaged independent counsel to assist with its investigation into the these matters.
On September 18, 2022, the Audit Committee determined, in accordance with the Company’s Related Person Transaction Policy, that the Transaction was the result of an arm’s length negotiation between the Company and the Seller, and ratified the Transaction. In addition, the Audit Committee has determined that Nir Korczak was not aware of the Financing Arrangement at the time of the Transaction. Ron Korczak is no longer serving as a director of Playtika UK. The Company is reserving all rights and remedies that it may have, at law or in equity, related to the Transaction and the Financing Arrangement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| PLAYTIKA HOLDING CORP. | ||||||
| Registrant | ||||||
| Date: September 19, 2022 | By: | /s/ Craig Abrahams | ||||
| Craig Abrahams | ||||||
| President and Chief Financial Officer | ||||||