One of the largest crypto ATM providers in North America Bitcoin Depot,shares in the first quarter of 2023. NasdaqIt plans to list in .
Bitcoin Depot, a major cryptocurrency ATM provider in the United States, plans to go public through a merger with a special purpose acquisition company (SPAC).
Bitcoin Depot to Merge with SPAC
based in Atlanta Bitcoin Depotannounced that it has reached an agreement to merge with SPAC GSR II Meteora (GSRM) in a $885 million deal to go public.
The partnership will cause the company to become a public company, as the combined company Bitcoin Depot Inc. and will be traded on the Nasdaq under the symbol BTM. Merger, Bitcoin Depot ‘s leadership team and GSRM board of directors unanimously approved. It was reported that it is aimed to be completed by the first quarter of 2023.
GSR II Meteora SPAC reportedly has about $320 million that the company can use to grow, but SPAC investors will be able to withdraw their money before the merger takes place. S The company will also be able to continue with a financing round that will close at the same time as the merger agreement. GSRM co-CEO and a former SPAC banker at Bank of America Gus GarciaHe said he is confident in the company’s financing options due to the company’s steady growth.
Gus Garcia additionally said:
“With this Bitcoin ATM (BTM) footsteps, significant strategic relationships, and feature-rich mobile app, we believe Bitcoin Depot is well positioned to leverage the BTM market both at home and abroad.”
