By Jon Jordan, Contributing Editor
Jam City has confirmed it will become a publicly floated company on the New York Stock Exchange via a merger with DPCM Capital, a SPAC.
The combined company will operate as Jam City Holdings and be listed under the ticker symbol ‘JAM’.
As part of the process, Jam City will use the cash unlocked in the deal to acquire Canadian mobile publisher Ludia for $175 million.
The result will create a company with an enterprise value of $1.2 billion and around $115 million of cash for future M&A.
Bookings for 2022 are estimated to be around $868 million, up 23 per cent year-on-year (in terms of CAGR for the period 2019-2022), and $112 in adjusted EBITDA, up 30 per cent.