Fintech that created digital currency ATM will go public in the US

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Fintech Bitcoin Depot plans to list shares in the United States by merging with blank check company (SPAC) GSR ​​II Meteora Acquisition in a deal valued at $885 million, the companies said on Thursday.

The transaction will raise up to $321 million in cash held in GSRM’s trust account and will be used for Bitcoin Depot working capital, completion of acquisitions, and expansion of the platform and product suite.

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Assuming no redemptions, the combined company will be valued at $755 million, including debt, with an equity value of $885 million and up to $170 million in cash owed to the deal, according to a statement.

Bitcoin Depot, founded in 2016, is a bitcoin ATM operator in North America that allows users to convert their money into bitcoin, ethereum and litecoin at over 7,000 kiosks in 47 US states and nine Canadian provinces.

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The deal, which is expected to close in the first quarter of next year, is being advised by Oppenheimer & Co.

The combined company will be listed on Nasdaq under the ticker ‘BTM’.

Source: CNN Brasil

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