GDEV Announces Final Results Of Self Tender Offer; Accepted For Purchase 16,554,256 Shares Through The Tender Offer At A Price Of $2.00 Per Share, For An Aggregate Cost Of ~$33.1M
Portfolio Pulse from Benzinga Newsdesk
GDEV has completed its self-tender offer, purchasing 16,554,256 shares at $2.00 each, totaling approximately $33.1 million. This represents about 8.4% of its outstanding shares as of December 19, 2023. Post-transaction, GDEV will have around 181 million shares outstanding.
January 19, 2024 | 1:20 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
GDEV's self-tender offer completion, with a buyback of 16.55 million shares at $2 per share, cost the company approximately $33.1 million and reduced outstanding shares by 8.4%.
The completion of the self-tender offer is likely to be viewed positively by investors as it can indicate confidence from management in the company's value. The reduction in the number of outstanding shares can potentially increase earnings per share and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100