(Adds financial details)
Aug 25 (Reuters) – Fintech Bitcoin Depot plans to list in the United States by merging with blank check company GSR II Meteora Acquisition Corp in a deal valued at $885 million, the companies said on Thursday.
The transaction will raise up to $321 million of cash held in GSRM’s trust account and will be used to support Bitcoin Depot’s working capital, complete acquisitions and scale its platform and suite of products.
Assuming no redemptions, the combined company will be valued at $755 million, including debt, with an equity value of $885 million and up to $170 million in cash proceeds from the deal, according to a statement.
Bitcoin Depot, founded in 2016, is a bitcoin ATM operator in North America that enables…