Nexters reports 40% bookings growth in Q2 2021, confirms $100m PIPE/FPA investment and SPAC transaction closing timeline
July 19, 2021
Nexters proceeds to grow, while merger with Kismet Acquisition One 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 Nexters proceeded to show strong financial and operating performance. Fueled by successful marketing initiatives, Nexters reached $154 million in Bookings in Q2 2021 — 40% higher year-over-year for the same period in 2020. This rapid growth came with an increase of monthly paying players by 43% year-over-year to approximately 400,000 paying players.
Additional investment has been secured thus letting Nexters to meet the minimum cash condition required under the business combination agreement. $50 million will be invested via PIPE by Mubadala Investment Company and VPE Capital. Along with $50 million from Kismet it provides transaction security for closing the 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