Nexters Global to Go Public via 1.9 Billion SPAC Deal

0
58
Panorama of a city business district with office buildings and skyscrapers and superimposed data, charts and diagrams related to stock market, currency exchange and global finance. Blue line graphs with numbers and exchange rates, candlestick charts and financial figures fill the image with a glowing light. Sunset light.

Reuters Nexters Global, owner of mobile game Hero Wars, said on Monday it has agreed to go public through a merger with blankcheck firm Kismet Acquisition One Corp in a deal that values the company at 1.9 billion.

The deal is expected to close in the second quarter of 2021, following which Nexters founders Andrey Fadeev and Boris Gertsovsky will lead the combined company.

The European mobile game developer, founded in 2010, will trade on the Nasdaq Global Select Market under the ticker GDEV.

Existing shareholders of Nexters will roll about 92 of their holdings into the combined company while agreeing to a 12month lockup, the company said.

Credit Suisse, BofA Securities and LionTree Advisors served as financial and capital markets advisors to Kismet Acquisition One Corp.

A blankcheck firm, also known as a special purpose acquisition company SPAC, uses proceeds from an initial public offering to buy a private company, which is then taken public.

Reporting by Shreyasee Raj in Bengaluru; Editing by Shailesh Kuber

Source Reuters

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here