Cryptocurrency ticker atm3/19/2023 ![]() ![]() ![]() “The net proceeds raised from the transaction will consist of up to $321 million of cash held in GSRM’s trust account and will be used to support Bitcoin Depot’s working capital, complete acquisitions and scale its platform and suite of products.” The newly formed company is estimated to have a post-transaction enterprise value of $755 million along with an “estimated equity value of $885 million from the contribution of up to $170 million in cash proceeds from the transaction,” the press release said. The nature of the business combination requires that it be subject to regulatory and stakeholder approvals, as well as other standard closing conditions. The leadership team at Bitcoin Depot and the board of directors of GSRM have unanimously approved the merger, and it is expected to close by the first quarter of 2023. and it will trade on the NASDAQ under the ticker symbol “BTM.” ![]() Once the deal is finalized, the company’s official name will be Bitcoin Depot Inc. (Kitco News) - Bitcoin Depot, the world’s largest Bitcoin ATM provider, according to data from Coin ATM Radar, has revealed that it intends to go public through a merger deal with a special-purpose acquisition company (SPAC).Īccording to Thursday's press release, the Atlanta-based ATM provider has reached a definitive agreement to merge with SPAC GSR II Meteora (GSRM) in an $885 million deal that will allow the firm to become a listed company. Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. ![]()
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