Fold Aims for Nasdaq Listing with $365 Million SPAC Deal

Wednesday, 24 July 2024, 15:01

Bitcoin rewards application Fold is setting its sights on a public listing via a $365 million merger with a special purpose acquisition company (SPAC). Following the merger, the company will enhance its financial standing with over 1,000 BTC, valued at approximately $67 million, on its balance sheet. This move highlights the growing interest in cryptocurrency-related businesses in the public markets, as Fold seeks to expand its reach and operations.

CoinDesk — Fold Aims for Nasdaq Listing with $365 Million SPAC Deal

Overview of Fold's Plans

The financial landscape is increasingly shifting towards cryptocurrency, and Fold, a Bitcoin rewards app, is capitalizing on this trend.

SPAC Merger Details

Fold is pursuing a public listing via a $365 million SPAC deal.
The transaction aims to elevate the company’s market presence and accessibility.
Post-merger, the entity will hold more than 1,000 BTC worth approximately $67 million.

Conclusion

This strategic move indicates the growing traction and interest in cryptocurrency-centric ventures. Fold's approach showcases the industry's potential for innovation and expansion.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Overview of Fold's Plans

SPAC Merger Details

Conclusion

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