eToro to terminate $10B SPAC merger in mutual agreement with acquisition firm
The firm is reportedly seeking a new funding round that would infuse with more cash at a 50% lower valuation than one year ago. On Tuesday, special purpose acquisition company (SPAC) FinTech Acquisition Corp. V announced that it terminated its purposed takeover of Israeli cryptocurrency exchange eToro via a bilateral agreement. In explaining the decision, Fintech V chairman of FinTech V Betsy Cohen said: "eToro continues to be the leading global social investment platform, with a proven track record of growth and strong momentum. Although we are disappointed that the transaction has been....
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The digital currency firm Etoro has revealed it is laying off 100 workers or roughly 6% of the company’s workforce. Furthermore, Etoro disclosed that the company is terminating the special purpose acquisition company (SPAC) merger planned with Fintech Acquisition Corp. Etoro says the company plans to raise funds privately now and aims to raise $800 million to $1 billion. Etoro Cuts Staff, SPAC Deal Canceled The Tel Aviv, Israel-based social trading and crypto investment platform Etoro is laying off around 6% of the firm’s staff. The company’s CEO and co-founder Yoni....
Social trading platform eToro could become the next fintech player to pursue a public listing in the United States by merging with a blank check firm. Crypto-friendly trading platform eToro appears to be making firm moves toward achieving its goal of going public in the United States.According to a press release issued on Tuesday, eToro is in talks with FinTech Acquisition Corp V — a special-purpose acquisition company, or SPAC, owned by veteran Philadelphia banker Betsy Cohen — toward a $10 billion merger.Both companies are looking to raise equity to the tune of about $650 million to....
The firm has entered an agreement with special purpose acquisition company Goldenstone Acquisition Ltd, through which it will pursue the listing. Goldenstone Acquisition Ltd, a special-purpose acquisition firm (SPAC), has announced plans to go public with blockchain-based payments firm Roxe Holding Inc.As per the Wednesday announcement, the SPAC has agreed to a $3.6 billion merger with the global blockchain payments firm, which will see Roxe listed on the Nasdaq under the ticker ROXE. Roxe is a global payments company that offers both business-to-business and consumer payments services,....
The bitcoin mining startup Primeblock has announced plans to go public via a special purpose acquisition company (SPAC) deal. Primeblock will merge with a blank-check firm 10X Capital Venture Acquisition Corp. II, and the company’s shares will be listed on Nasdaq.
Primeblock Reveals SPAC Merger With Plans to Be Listed on Nasdaq in the Second Half of 2022 — SEC Targets SPACs, Shell Companies, and Projections
Another bitcoin mining firm is going public and will be listed on the Nasdaq stock exchange. Primeblock revealed a SPAC merger with 10X Capital and the....
One of the largest crypto ATM providers in North America, Bitcoin Depot, plans to list its stock on Nasdaq in the first quarter of 2023. Bitcoin Depot, a major cryptocurrency ATM provider in the United States, is planning to go public through a merger with a special-purpose acquisition company (SPAC).Atlanta-based Bitcoin Depot has reached a definitive agreement to merge with the SPAC GSR II Meteora (GSRM) in an $885 million deal to go public, the firm officially announced on Thursday.The business combination would result in Bitcoin Depot becoming a publicly listed company as the combined....