N.Y. Company to Acquire Game Firm in Stock Swap
T HQ Inc., a Calabasas company that develops and markets games for the Nintendo home video system, has agreed to be acquired by Trinity Acquisition Corp. in a stock swap valued at about $33 million.
According to a filing with the Securities and Exchange Commission, each common share of T HQ will be exchanged for 67,100 common shares of Trinity, a New York-based shell company. T HQ’s shareholders will end up owning 51.7% of the new company, the filing stated.
T HQ also develops and markets traditional toys and games through a Hong Kong subsidiary, including a line of figures and accessories based on Fox Television’s “Peter Pan and the Pirates,” a figure based on the rap musician Vanilla Ice, and a board game based on the movie “Home Alone.”
Trinity was formed in 1989 and raised $2.3 million in an initial public offering last year.