Bitcoin Depot will list on the Nasdaq in a SPAC deal worth $885 million
Bitcoin Depot anticipates listing on the Nasdaq under the symbol BTM in early 2019.
Bitcoin Depot, a US-based producer of cryptocurrency ATMs, will go public in the US by early 2023, the company announced in a press statement.
The next chapter of Bitcoin Depot’s expansion begins after the company reached a transaction with GSR II Meteora Acquisition Corp. valued at about $885 million in share price (NASDAQ: GSRM).
Bitcoin Depot Inc. will list on the Nasdaq stock exchange.
The company’s agreement with the line item veto industry will result in its Nasdaq listing as Bitcoin Depot Inc., trading under the symbol “BTM.”
Brandon Mintz, CEO and creator of Bitcoin Depot, remarked that the development signifies a new milestone for the ATM provider as it seeks to assist more individuals in obtaining entry to and purchasing Bitcoin and other cryptocurrencies.
“We are constantly seeking to expand our reach so that as many individuals as feasible have accessibility to cryptocurrency so they can govern their own funds and perform simpler and faster payment information,” he added.
Bitcoin Depot, the largest Bitcoin ATM company in North America, was founded in 2016.
Over the years, the industry has gained to include over 7,000 crypto ATM kiosks in the United States and Canada. Arrangements with some of the region’s most prominent shops have enabled users to purchase Bitcoin at over 8,000 locations.
Users may locate ATM kiosks using the company’s smartphone app, which also enables users to manage purchases and link them to a cryptocurrency wallet.
Although the companies anticipate closing the transaction by the first quarter of 2023, regulatory and stockholder approvals are required.
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