Russia-focused SPAC Kismet Acquisition One prices $250 million IPO at $10
Kismet Acquisition One, a blank check company formed by the former CEO of MegaFon targeting a Russian business, raised $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. The company may raise an additional $20 million at the closing of an acquisition pursuant to a forward purchase agreement with its sponsor.
The company is led by CEO and Director Ivan Tavrin, the founder and Principal of investment firm Kismet Capital Group. Tavrin previously served as the CEO of PJSC MegaFon, Russia's second largest telecommunications operator, and before that, he founded UTH Russia, one of the largest independent media broadcasting groups in Russia. Kismet Acquisition One plans to target companies in the telecommunications infrastructure, internet and technology, and consumer goods and services sectors operating in Russia.
Kismet Acquisition One plans to list on the Nasdaq under the symbol KSMTU. Credit Suisse and BofA Securities acted as lead managers on the deal.
The article Russia-focused SPAC Kismet Acquisition One prices $250 million IPO at $10 originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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