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Bitcoin Depot, one of the largest cryptocurrency ATM companies in the United States, announced the closing of a merger agreement allowing the company to go public.
In a June 30 announcement, fintech firm GSR II Meteora Acquisition Corporation said its shareholders had approved the merger for the company to act as a special-purpose acquisition company for Bitcoin Depot. The deal, first reported in August 2022, cost $885 million and is expected to allow investors exposure to Bitcoin Depot on the Nasdaq from July 3.
According to Bitcoin Depot Founder and CEO, Brandon Mintz, the merger agreement was intended to support numerous growth opportunities and promote the adoption of Bitcoin (BTC) in North America. Investors will be able to find shares of Bitcoin Depot under the ticker symbols BTM and BTMWW for its common stock and public warrants, respectively.
Related: Net Bitcoin ATMs See Increase After 4 Months of Global Downtrend
The announcement came amid regulatory scrutiny of companies in the United States offering crypto products or services. The Securities and Exchange Commission has filed lawsuits against stock exchanges Binance and Coinbase over alleged unregistered securities offerings. However, crypto-exposed investment vehicles also appear to be on the rise after BlackRock filed an application in June to list a spot Bitcoin exchange-traded fund.
Founded in 2016, Bitcoin Depot is one of the largest crypto ATM companies in North America, with over 9,130 locations, according to its website. In May, another ATM provider, Bitcoin of America, announced it would shut down operations in Connecticut after the state’s Banking Department said the company lacked the proper license.
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Sources 2/ https://cointelegraph.com/news/crypto-atm-firm-bitcoin-depot-will-go-public-on-nasdaq-starting-july-3/amp The mention sources can contact us to remove/changing this article |
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