- The company went public thanks to a SPAC agreement with GSR II Meteora Acquisition Corporation
- The deal cost the firm $885 million
- The producer’s shares are available under the “BTM” and “BTMWW”
The world’s largest bitcoin-ATM producer Bitcoin Depot is expected to list on the Nasdaq stock exchange today, July 3. The company went public following the completion of a merger with the laying firm GSR II Meteora Acquisition Corporation.
The parties first announced the agreement in August 2022.. As a reminder, a SPAC counterparty is an entity specifically created for the IPO by a larger partner.
The agreement cost $885 million.. Investors will have access to Bitcoin Depot shares starting today. They will be traded under the tickers “BTM” and “BTMW.”
When this article was written, the Nasdaq had not yet started. Therefore, the present value of these derivatives is unknown. Stay tuned for updates to learn more.
Brandon Mintz, founder and CEO of Bitcoin Depot, said the deal was designed to implement the company’s growth strategy and encourage adoption of the cryptocurrency.
He also emphasized that the ultimate goal of both the agreement and the producer’s activities is the safe introduction of bitcoin into society at all levels. CEO noted the company’s strong position in North America and vast potential.. The SEC is pressuring not only cryptocurrency exchanges (after all, Coinbase went public in 2021), but also related businesses, in particular exchange products.