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eToro Nears Merger With SPAC: Report
A deal could be announced as early as Tuesday.
Trading platform eToro could announce as early as today a plan to go public via a merger with a special purpose acquisition company (SPAC), according to a reporthttps://finance.yahoo.com/news/etoro-said-near-10-billion-232111712.html by Bloomberg citing people with knowledge of the matter.
- The deal with FinTech Acquisition Corp. V would value the combined entity at about $10 billion, the report said.
- FinTech Acquisition Corp. V is led by Betsy Cohen, who has been involved with several other SPACs, including one that took Perella Weinberg public, Bloomberg said.
- Representatives for both companies declined to comment, the report said.
Read more: eToro Said to Be in Talks With Goldman About Possible $5B IPO: Report
STORY CONTINUES BELOW
Kevin Reynolds
Kevin Reynolds is editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
