GDEV Unveils New At-The-Market Offering of Ordinary Shares
GDEV Inc. Launches Strategic At-The-Market Offering
GDEV Inc. (NASDAQ: GDEV), a prominent player in the international gaming and entertainment industry, has recently taken a significant step towards enhancing its market presence. The company announced that it has entered into a Sales Agreement allowing it to offer and sell 1,757,026 ordinary shares from its treasury as part of an at-the-market (ATM) offering. This move aligns with GDEV’s strategic goals to boost its public float and improve trading liquidity for its shares.
Understanding the ATM Offering
The ATM Offering involves the sale of existing shares that GDEV acquired through a previous tender offer. It’s essential to note that no new shares will be created as part of this offering, indicating that GDEV is effectively utilizing its existing resources. The procedure for these sales will adhere to the guidelines set forth in the Securities Act, enabling a streamlined transaction process through authorized agents. As specified, the shares may be sold directly on the NASDAQ or through negotiated transactions, depending on market conditions.
Role of Financial Agents
To facilitate these transactions, GDEV has engaged two experienced financial institutions—Cantor Fitzgerald & Co. and Oppenheimer & Co. Inc. These agents will work diligently to execute the sales of the shares while following the company’s instructions regarding timing and pricing. Their expertise will be vital in navigating the complexities of the financial market as they strive to maximize the offering's effectiveness.
Where to Find More Information
Investors seeking more details on the offering can refer to the regulatory documents available on the SEC’s EDGAR database. A prospectus outlining specifics of the ATM Offering will also be made available through the agents involved, ensuring transparency and access to vital information for potential buyers.
Purpose of the Offering
The primary objective behind this ATM Offering is to bolster GDEV’s trading liquidity. By increasing the public float, the company aims to create a more robust trading environment for its shares. The net proceeds from this offering are intended for general corporate purposes, particularly to enhance working capital, which will further empower GDEV’s ongoing growth strategies.
About GDEV Inc.
GDEV Inc. operates as a leading aggregator of gaming studios, dedicated to the development of a rich and varied franchise portfolio. With renowned subsidiaries like Nexters and Cubic Games, GDEV is committed to delivering engaging gaming experiences across multiple platforms. Notably, franchises such as Hero Wars and Pixel Gun 3D have gained global popularity, achieving hundreds of millions of downloads. This strong portfolio not only underscores GDEV's industry position but also reflects its commitment to innovative gaming solutions.
Contact GDEV for More Information
For investors and interested parties looking to connect with GDEV, the Investor Relations department is available for inquiries. Roman Safiyulin, the Chief Corporate Development Officer, can be reached via email for any questions regarding the ATM Offering or other corporate matters.
Frequently Asked Questions
What is GDEV’s ATM Offering about?
The ATM Offering is a method for GDEV to sell existing shares to enhance liquidity and raise funds for corporate purposes.
Who are the financial agents involved in the offering?
Cantor Fitzgerald & Co. and Oppenheimer & Co. Inc. are the agents facilitating GDEV's ATM Offering.
Will new shares be issued in this offering?
No, the ATM Offering is based solely on existing shares already held by the company.
What are the projected uses for the proceeds from the offering?
The proceeds from the ATM Offering will primarily be used for general corporate purposes and working capital.
How can I access the prospectus for the ATM Offering?
The prospectus can be accessed through the SEC’s EDGAR database or from the financial agents directly.
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