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Nexters Global to Go Public via $1.9 Billion SPAC Deal

(Reuters) - Nexters Global, owner of mobile game Hero Wars, said on Monday it has agreed to go public through a merger with blank-check 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 12-month lock-up, the company said.

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

A blank-check 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


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