- The company continues to deliver strong growth in quarterly
bookings by 40% and an increase in the number of Monthly Paying
Users by 43% in Q2 2021 year over year.
- Additional investments secured: $50 million via PIPE from
Mubadala Investment Company and VPE Capital.
- Total investments reached $100 million which provides the
cash minimum required under the business combination agreement, the
SPAC merger deal is now expected to close by the end of Q3
2021.
Nexters, an international game development company that is in
the process of closing a business combination with a SPAC company
Kismet Acquisition One Corp (Nasdaq: KSMT, KSMTU, KSMTW), saw
continued success in its approach to bring core gaming experiences
to casual audiences as it announced further growth of Bookings in
Q2. Nexters also reached the minimum cash condition required under
the business combination agreement as a result of PIPE funding
commitments, the transaction is now expected to close by the end of
Q3 2021.
The Q2 results feature strong financial and operating
performance after following sustainable growth for the beginning of
the year. 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. Despite the significant inflow of new payers, who tend to
spend less in the beginning of their lifespan, the blended average
bookings per paying player kept relatively flat at $125.
“Our savvy marketing and fun games are landing well with a
growing audience who haven’t stopped playing games,” Andrey Fadeev,
Nexters CEO said. “These successes are further fuel for our
readiness to go public.”
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
(Private Investment in Public Equity) by Mubadala Investment
Company and VPE Capital. The PIPE investment along with $50 million
from SPAC sponsor Kismet Sponsor Limited provides the required
minimum of $100 million.
Faris Al Mazrui, Head of Mubadala’s Russia and CIS Investment
Program, said: “We are excited to establish this partnership with
Ivan Tavrin and Kismet through this investment into Nexters. The
company fits well within our expanding portfolio of tech companies
that we believe will deliver long term and sustainable returns.
Nexters is led by a strong and visionary management team, and is
well-positioned to benefit from the ever-evolving games
market.”
Roman Kudryashov, Partner of VPE Capital, said: “The gaming
space is one to which we have been looking to gain exposure for
some time, and we are convinced that Nexters offers a great growth
opportunity for us and our LPs. The company demonstrates the kind
of dynamic entrepreneurship we like to see in our Fund. We are very
much looking forward to working with our new partners.”
The secured investments provide transaction security for closing
the deal, which is now expected to be completed by the end of Q3
2021, subject to regulatory approval and other customary
conditions. After closing of the business combination, Nexters is
expected to trade on Nasdaq Global Select Market under the “GDEV”
ticker symbol.
On January 31, Nexters and Kismet Acquisition One Corp
(“Kismet”) entered into a definitive business combination agreement
that will result in Nexters becoming a publicly-listed company on
Nasdaq. The transaction, which placed Nexters at an enterprise
value of $1.9 billion, will be funded by approximately $250 million
of cash held in trust by Kismet, subject to potential redemptions,
as well as the additional $50 million investment by the SPAC
Sponsor, Kismet Sponsor Limited, and $50 million in the aggregate
from PIPE investors Mubadala Investment Company and VPE Capital.
The transaction is expected to close by the end of Q3 2021. Please
find more information about this business combination at:
https://nexters.com/investors_content.
About Nexters
Nexters is an international game development company which
strives to introduce the joy of core gaming experiences to casual
players. Thanks to such hit games like Hero Wars, Throne Rush, and
others the company reached over 200 million installs worldwide and
became one of the top five independent mobile game companies in
Europe. Headquartered in Cyprus, Nexters is built upon a team of
500+ inspired game developers. Please find more information about
Nexters at: https://nexters.com and follow Nexters on LinkedIn.
About Mubadala Investment Company
Mubadala Investment Company is a sovereign investor managing a
global portfolio, aimed at generating sustainable financial returns
for the Government of Abu Dhabi. Mubadala’s $243.4 billion (AED 894
billion) portfolio spans six continents with interests in multiple
sectors and asset classes. We leverage our deep sectoral expertise
and long-standing partnerships to drive sustainable growth and
profit, while supporting the continued diversification and global
integration of the economy of the United Arab Emirates.
Headquartered in Abu Dhabi, Mubadala has offices in London, Rio de
Janeiro, Moscow, New York, San Francisco and Beijing. For more
information about Mubadala Investment Company, please visit:
https://www.mubadala.com.
About VPE Capital
VPE Capital is a specialist emerging market asset manager
focused on investing institutional funds to enhance risk weighted
returns with a focus on the CIS region. For more information about
VPE Capital, please visit: https://www.vpe-capital.com.
DISCLAIMERS
This press release shall neither constitute an offer to sell or
the solicitation of an offer to buy any securities, nor there any
sale of securities in any jurisdiction in which the offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
Use of Projections. The financial projections, estimates
and targets in this press release are forward-looking statements
that are based on assumptions that are inherently subject to
significant uncertainties and contingencies, many of which are
beyond Kismet’s and Nexters’ control. Although all financial
projections, estimates and targets are necessarily speculative,
Kismet and Nexters believe that the preparation of prospective
financial information involves increasingly higher levels of
uncertainty the further out the projection, estimate or target
extends from the date of preparation. The assumptions and estimates
underlying the projected, expected or target results are inherently
uncertain and are subject to a wide variety of significant
business, economic and competitive risks and uncertainties that
could cause actual results to differ materially from those
contained in the financial projections, estimates and targets. The
inclusion of financial projections, estimates and targets in this
press release should not be regarded as an indication that Kismet
and Nexters, or their representatives, considered or consider the
financial projections, estimates and targets to be a reliable
prediction of future events.
Additional Information; Participants in the Solicitation.
Nexters has filed a registration statement with the SEC that
includes a preliminary proxy statement of Kismet and a preliminary
prospectus of Nexters (the “proxy statement/prospectus”). The
definitive Proxy Statement/Prospectus will be mailed to Kismet’s
shareholders as of a record date to be established for voting on
the contemplated business combination when it becomes available.
Kismet shareholders and other interested persons are urged to read
the proxy statement/prospectus and any other relevant documents
filed with the SEC because they contain important information about
Kismet, Nexters and the contemplated business combination. Kismet
shareholders will be able to obtain a free copy of the proxy
statement/prospectus, as well as other filings containing
information about Kismet, Nexters and the contemplated business
combination, without charge, at the SEC’s website located at
www.sec.gov.
Kismet, Nexters and their respective directors and executive
officers may be deemed to be participants in the solicitation of
proxies from Kismet’s shareholders in connection with the proposed
transaction. A list of the names of such directors and executive
officers and information regarding their interests in the business
combination are contained in the proxy statement/prospectus. You
may obtain free copies of these documents as described in the
preceding paragraph. This press release does not contain all the
information that should be considered in the contemplated business
combination. It is not intended to for many basis of any investment
decision or any decision in respect to the contemplated business
combination. .
Forward Looking Statements. Certain statements in this
press release may constitute “forward-looking statements” for
purposes of the federal securities laws. Such statements are based
on current expectations that are subject to risks and
uncertainties. In addition, any statements that refer to
projections, forecasts or other characterizations of future events
or circumstances, including any underlying assumptions, are
forward-looking statements.
The forward-looking statements contained in this press release
are based on Kismet’s and Nexters’ current expectations and beliefs
concerning future developments and their potential effects on
Kismet and Nexters. There can be no assurance that future
developments affecting Kismet and Nexters will be those that Kismet
and Nexters have anticipated. Forward-looking statements involve a
number of risks, uncertainties (some of which are beyond Kismet’s
and Nexters’ control) or other assumptions. You should carefully
consider the risks and uncertainties described in the “Risk
Factors” section of the registration statement on Form F-4 relating
to the business combination, filed by Nexters and other documents
filed by Nexters and Kismet from time to time with the SEC. Should
one or more of these risks or uncertainties materialize, or should
any of Kismet’s or Nexters’ assumptions prove incorrect, actual
results may vary in material respects from those projected in these
forward-looking statements. Forward-looking statements speak only
as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and Kismet and
Nexters undertake no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210719005214/en/
Nexters: PR: Andrey Akimov | Chief Communications Officer
aa@nexters.com
IR: Roman Safiyulin | Investor Relations Officer
r.safiyulin@nexters.com
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