Gdev announces commencement of self tender offer to purchase for cash a minimum of 15,000,000, up to 20,000,000 of its ordinary shares at a purchase price of $2.00 per ordinary share

Limassol, cyprus, dec. 19, 2023 (globe newswire) -- gdev inc. (nasdaq: gdev), an international gaming and entertainment company (“gdev” or the “company”), today announced the commencement of a tender offer by the company to purchase for cash a minimum of 15,000,000 of its ordinary shares, no par value per ordinary share (each, a “share”) (the “minimum tender condition”), up to a maximum of 20,000,000 shares, at a purchase price of $2.00 per share, net to the seller in cash, without interest, less any applicable withholding taxes, using funds available from cash and cash equivalents. the tender offer, proration period and withdrawal rights will expire at 5:00 p.m., eastern time, on january 18, 2024, unless the tender offer is extended (such date and time, as it may be extended, the “expiration time”). the board of directors of the company (the “board of directors”) determined that the tender offer is a prudent use of the company's financial resources given its current capitalization, cash balance and operational business profile, and that the tender offer presents an appropriate balance between meeting the needs of its business and delivering value to the company's shareholders. the board of directors also determined that a cash tender offer is an appropriate mechanism to return capital to shareholders that seek liquidity under current market conditions while, at the same time, allowing shareholders to share in a higher portion of the company's future potential.
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