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Cryptocurrency-friendly investment platform eToro has suspended its IPO process through a merger. SPAC. Reported by The Information with reference to a source. According to the publication, FinTech Acquisition
Cryptocurrency-friendly investment platform eToro has suspended its IPO process through a merger. SPAC. Reported by The Information with reference to a source.
According to the publication, FinTech Acquisition Corp. V is scheduled for June 30. However, the source said the process is not progressing.
eToro did not comment on the information, but did announce “an update in the coming days.”
In December 2020, the media reported plans for the platform to go public. The company then called the news “market rumors”.
In March 2021, eToro announced its intention to go public through a merger with FinTech Acquisition Corp. v.
The parties postponed the finalization of the transaction to June 2022 due to the lack of approval from the US Securities and Exchange Commission. According to the documents, the estimated valuation of the combined company fell from $10.4 billion to $8.8 billion.
Recall that in April, eToro announced the launch of a program to support the startup creators of immutable tokens and the NFT ecosystem, for $20 million.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
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