Today Nexters goes on the Nasdaq exchange. A gaming company with Russian roots has completed a merger with the SPACE firm Kismet Acquisition One (Kismet). Its shares under the tickers GDEV and GDEVW will be available to buy from the moment the exchange opens at 16:30 Moscow time.
“On this special day, we want to thank our amazing team for their perseverance and passion, as well as our business partners, platforms and many others,” said Andrey Fadeev, co—founder and CEO of Nexters. — “We managed to create a company that employs wonderful people who create great games for millions of players. Having entered the stock exchange, we will continue what we started and will strive to give players new sensations and release international blockbusters.”
Nexters expects that the deal with Kismet will bring it $132 million. This amount includes investments from both the SPAC company itself and from Mubadala Investment Company with VPE Capital. It also takes into account the funds that are currently in the trust management of Kismet.
Nexters plans to spend money on its own development, deals with companies, the development of fresh games and the launch of titles in new regions.
Andrey Fadeev and Boris Hertovsky, head of the R&D department, will retain their leadership positions. But Ivan Tavrin, CEO of Kismet, will join the board of directors of the combined company.
Nexters announced plans to become a public company in early February. It is expected that after going public, its market value will be $1.9 billion.
The closing ceremony of the auction will be held at 22:30 Moscow time. You can watch it live here.