Dear Cashmere Holding Company, operating as Swifty Global, has announced a strategic restructuring that will separate its online gaming technology division into a new company, with plans for an initial public offering on a major exchange as early as 2026. The Board of Directors approved the restructuring to unlock shareholder value, improve capital-market alignment, and create a cleaner path to a major-exchange IPO. According to the company, the technology division has reached a scale where it can operate as a stand-alone global platform, while DRCR's current public structure no longer aligns optimally with modern technology IPO requirements.
CEO James Gibbons stated that this restructuring is designed to maximize shareholder value by allowing two strong businesses to pursue the strategies best suited to their growth. DRCR shareholders will have the opportunity to participate in the future technology IPO while continuing to benefit from DRCR's public-company strategy. The new company will focus on licensing proprietary sportsbook, casino, compliance, and risk-management software to regulated operators under a SaaS model, supporting international expansion across Europe, Africa, and other regulated markets.
At the close of business on December 7, the company will spin out the majority of its online gaming technology business into a newly formed entity that will initially be privately held. DRCR shareholders of record as of December 31 who hold at least 2,000 DRCR shares will receive an equity interest in the new company while retaining their existing DRCR shares. A portal will be launched during January to provide shareholders with additional information and allow them to register for participation in the future IPO process, accessible through the company's website at https://www.swiftyglobal.com.
The decision to pursue an IPO through a newly formed company, rather than an uplisting of DRCR itself, reflects a strategic assessment of how best to position the technology business for a successful major-exchange listing. The business generates substantially all of its revenues outside the United States, creating an opportunity to design a regulatory, tax, and reporting structure optimized for international technology operations. This approach is intended to provide a clearer, faster, and more cost-effective path to a major-exchange IPO while maintaining continuity and value for DRCR shareholders.
James Gibbons will transition to the role of Chief Technology Officer for the new entity, while a highly experienced industry executive has been appointed as CEO and will be formally announced in due course. Separately, DRCR will continue to operate as a publicly traded company under the leadership of James Gibbons and Chairman Nicolas Link, with plans to complete a strategic acquisition in early 2026 to form the foundation of its next phase of growth. The Board expects to complete the appointment of the investment bank to lead the IPO process in January and will announce this as soon as practicable thereafter. Additional information about the company's stock profile is available through https://www.otcmarkets.com/stock/DRCR/profile.
