Bitcoin Depot, one of many largest cryptocurrency ATM companies in the US, has introduced the closing of a merger deal permitting the corporate to go public.
In a June 30 announcement, fintech agency GSR II Meteora Acquisition Company mentioned its stockholders had permitted the merger for the agency to behave as a particular function acquisition firm for Bitcoin Depot. The deal, first reported in August 2022, price $885 million and is predicted to permit buyers publicity to Bitcoin Depot on the Nasdaq beginning July 3.
$GSRM & Bitcoin Depot deal closing PR. Will commerce as $BTM on Monday, July 3.https://t.co/tlimnZdQqF
— SPAC Monitor (@SPACtrack) June 30, 2023
In line with Bitcoin Depot founder and CEO Brandon Mintz, the merger deal was aimed toward supporting “quite a few progress alternatives” and selling the adoption of Bitcoin (BTC) in North America. Traders will be capable of discover shares of Bitcoin Depot underneath the ticker symbols BTM and BTMWW for its frequent inventory and public warrants, respectively.
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The announcement got here amid regulatory scrutiny of companies within the U.S. providing crypto services or products. The Securities and Trade Fee filed lawsuits in opposition to exchanges Binance and Coinbase for alleged unregistered securities choices. Nevertheless, funding automobiles with publicity to crypto additionally appear to be on the rise following BlackRock submitting an software in June to listing a spot Bitcoin exchange-traded fund.
Based in 2016, Bitcoin Depot is without doubt one of the largest crypto ATM companies in North America, with greater than 9,130 areas, in line with its web site. In Could, fellow ATM supplier Bitcoin of America introduced it might shutter operations in Connecticut following the state’s Division of Banking saying the agency didn’t have the right licensing.
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