Skillz to go public on NYSE through SPAC
Mobile gaming platform Skillz Inc will go public on the New York Stock Exchange through a merger with special purpose acquisition company Flying Eagle Acquisition Corp.
Mobile gaming platform Skillz Inc will go public on the New York Stock Exchange through a merger with special purpose acquisition company Flying Eagle Acquisition Corp.
Skillz, which offers multiplayer skill-based mobile games such as Solitaire Cube, 21 Blitz and Dominoes Gold, will trade on the exchange when the deal closes in Fall 2020.
The deal would give Skillz an implied equity valuation of $3.5bn, which it says is 6.3 times its estimated 2022 revenue.
Skillz is said handle $1.6bn in paid entry fees for more than 2bn games hosted on its platform in 2020.