Dear Cashmere Holding Company (OTC:DRCR), operating as Swifty Global, has announced a strategic restructuring that will separate its online gaming technology business into a newly formed company. The Board of Directors approved this move to maximize long-term growth opportunities, strengthen regulatory alignment, and enhance shareholder value. The restructuring comes as DRCR's technology division has reached a scale where it can operate as a stand-alone global platform, while the company's current public structure no longer aligns optimally with the requirements of a modern technology initial public offering.
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, DRCR will spin out the majority of its online gaming technology business into this newly formed entity, which will initially be privately held. The company aims to complete an IPO on a major exchange as early as 2026, subject to market conditions and regulatory approvals.
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. The Board believes this represents an exciting and value-creating opportunity for both shareholders and founders.
James Gibbons, CEO of DRCR, commented that this restructuring is designed to maximize shareholder value by allowing two strong businesses to pursue strategies best suited to their growth. Gibbons will transition to the role of Chief Technology Officer for the new entity, while a highly experienced industry executive has already been appointed to serve as CEO of the new IPO vehicle and will be formally announced in due course. Nicolas Link, Chairman of DRCR, added that this structure creates the best possible alignment between founders, shareholders, and future investors, giving DRCR flexibility to execute strategic acquisitions while allowing the technology business to pursue the IPO.
Separately, DRCR will continue to operate as a publicly traded company under the leadership of James Gibbons and Nicolas Link. The company has identified a strategic acquisition that it expects to complete in early 2026, which is intended to form the foundation of DRCR's next phase of growth. Additional independent board members are expected to be appointed following the completion of the acquisition to support this next stage of development.
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. 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. The business generates and operates 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.
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. Shareholders will receive further updates early in the new year regarding progress on the IPO, the formalities relating to their interest in the new company, and developments related to DRCR's planned acquisition. More information about the company is available at https://www.swiftyglobal.com and stock information can be found at https://www.otcmarkets.com/stock/DRCR/profile.
