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business

Further 40% growth in Q2, PIPE investments and SPAC close ahead

19.07.2021

Nexters proceeds to grow, while our SPAC deal secured additional investments and is now expected to close by the end of Q3!

After great results in Q1 and raising the forecast for the whole year, in Q2 we proceeded to show strong financial and operating performance - 40% growth in Bookings year-over-year, while the number of our players has also grown significantly. Thanks to successful marketing campaigns, we’ve seen results with 43% growth in paying users year over year.

Our company also reached minimum cash conditions required under the business combination agreement with Kismet Acquisition One Corp. Additional investments of $50 million have been secured via PIPE, provided by Mubadala Investment Company and VPE Capital. Along with $50 million from our SPAC sponsor Kismet Sponsor Limited, it provides transaction security for closing the SPAC merger deal which is now expected by the end of Q3 2021, which is still subject to regulatory approval and other customary conditions.

After that, Nexters is expected to trade on Nasdaq under the “GDEV” ticker symbol.

Please refer to the official press release for more information: https://investor.nexters.com/