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(Reuters) – Funding platform Linqto has agreed to go public via a merger with particular goal acquisition firm (SPAC) Blockchain Coinvestors Acquisition in a deal valued at $700 million, the businesses stated on Tuesday.
San Jose, California-based Linqto, which has greater than 750,000 customers in 110 nations, permits customers to make investments in unicorns – startups valued at over $1 billion – and different non-public firms.
The corporate’s platform has offered buyers entry to non-public firms akin to Fortnite maker Epic Video games and cryptocurrency firm amongst others.
Linqto is the most recent firm to resolve to go public with a blank-check agency, a route that has largely fallen out of favor following intense scrutiny from the U.S. Securities and Trade Fee.
Clean-check corporations, often known as SPACs, use proceeds raised from an preliminary public providing to merge with a personal firm.
Following the deal, which is predicted to shut within the second half of 2024, the mixed firm will function as Linqto.
In February, buying and selling platform Webull additionally agreed to checklist its shares on Nasdaq by way of a merger with a blank-check agency in a deal valued at $7.3 billion.
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