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Next stop NASDAQ: eToro gets on SPAC train to $10 4B valuation station

Results for Next stop NASDAQ: eToro gets on SPAC train to $10.4B valuation station The stock trading platform eToro will list on NASDAQ via SPAC merger. According to reports, existing stakeholders will keep over 90% of shares. Yaneev Avital / 17 Mar 2021 • 2 min read Another week and another Israeli Unicorn is going public. This time fintech company eToro has joined the SPAC train, becoming one of Israel’s 10 biggest companies in the process. Over 75 million trades in a month Social investing platform eToro will become a public company via merger with SPAC firm FinTech Acquisition Corp. V, and based on an estimated implied equity value in the $10.4 billion range.

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Online brokerage eToro to go public via SPAC

Online brokerage eToro to go public via SPAC With pressures on Robinhood, eToro’s large user base and scale places the U.K.-based challenger front and center to disrupt the U.S. market. March 17, 2021 3 MINS Commission-free trading and social networking app eToro announced plans Tuesday to go public via a merger with a blank-check firm set to value the combined company at about $10.4 billion. EToro is slated to merge with special purpose acquisition company FinTech Acquisition Corp. V, which is led by Betsy Cohen, one of the prominent businesswomen who have joined the SPAC frenzy. “As a pioneer in the evolution of SPACs, Fintech Masala, our sponsor platform, seeks out companies with outsized growth, effective controls and excellent management teams,” said Cohen, chairman of the board of directors of FinTech V, in a statement. “EToro meets all three of these criteria.”

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eToro goes public seeking $10bn valuation

eToro goes public seeking $10bn valuation Online trading and investment group eToro is set to go public in a special purpose acquisition company (Spac) deal that values the business at $10.4 billion (€8.73 billion). It is one the largest Spac deals to date as eToro seeks to capitalise on the rise in digital assets trading, especially among retail investors. The Israeli-based platform has merged with blank cheque company Fintech Acquisition Corp V, from which it will receive $250 million, along with a further $650 million from a consortium of investors including Fidelity and SoftBank’s Vision fund. The merger is expected to close in Q3, after which eToro plans to list on US exchange Nasdaq.

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SPAC merger will take eToro public with a valuation of $10 4B

SPAC merger will take eToro public with a valuation of $10 4B
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eToro: la plataforma de trading online prevé entrar en Wall Street a través de una fusión

eToro: la plataforma de trading online prevé entrar en Wall Street a través de una fusión
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