- The company entered the stock exchange thanks to the SPAC agreement with GSR II Meteora Acquisition Corporation
- The deal cost the firm $885 million.
- Promotions of the manufacturer are available under tickets “BTM” and “BTMWW”
Today, July 3, Bitcoin Depot, the world’s largest Bitcoin-ATM producer, is expected to list on the Nasdaq stock exchange. The company went public after completion deals merged with GSR II Meteora Acquisition Corporation.
The parties first announced this agreement in August 2022. Recall that a SPAC category counterparty is an organization specially created for an IPO by a larger partner.
The agreement cost $885 million. Investors will have access to Bitcoin Depot shares starting today. They will trade under the tickets “BTM” and “BTMWW”.
At the time of this writing, the Nasdaq has not yet gone live. Therefore, the current value of these derivatives is unknown. Stay tuned for more information.
Bitcoin Depot founder and CEO Brandon Mintz noted that the deal was aimed at implementing the company’s growth strategy and stimulating the adoption of cryptocurrency.
He also emphasized that the ultimate goal of both the agreement and the activities of the manufacturer is the safe introduction of bitcoin into society at all levels. The CEO noted the company’s strong position in North America and its vast potential. Bitcoin Deposit chose a frankly bad moment for an IPO. The SEC puts pressure not only on cryptocurrency exchanges (and Coinbase went public in 2021), but also on related areas of activity, in particular, exchange products.