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eToro Track to Go Public through Betsy Cohen SPAC Merger
Mar 16 2021 · 15:04 UTC by Benjamin Godfrey · 3 min read
Photo: Depositphotos
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eToro will look to boost its business, drawing on its different revenue generation in relation to its major rivals.
Israeli social trading platform eToro is reportedly set to go public through a potential merger with a Special Purpose Acquisition Company (SPAC) dubbed FinTech Acquisition Corp. V (NASDAQ: FTCV). As reported by Bloomberg citing sources close to the deal, the acquisition vehicle lead is by renowned serial dealmaker Betsy Cohen and the merger between both firms will value them at a $10.4 billion valuation.
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Trading platform eToro, a rival to Robinhood Markets, plans to go public via a merger with a blank-cheque company led by serial dealmaker Betsy Cohen.
The agreement with FinTech Acquisition Corp V values the combined company at about $10.4 billion, according to a statement on Tuesday. The companies are raising about $650 million in equity to support the deal.
Investors in the equity transaction included ION Investment Group, Softbank Vision Fund II, Third Point, Fidelity Management & Research and Wellington Management, the statement shows.
The company became a member of the US Financial Industry Regulatory Authority, or Finra, in the last year and is expected to start providing stock-trading services in the US in the second half of 2021, according to the statement.
Zane Kilian. (Photo: Brenton Geach/Gallo Images)
Murder-accused Zane Kilian arrived in court with the words Not Guilty penned on the back of a shirt.
He also proclaimed, in a large handwritten font, Framed and Saps cover up .
His case was postponed after a new lawyer joined his legal team.
The words Not Guilty were handwritten in large letters on the back of a shirt Zane Kilian wore for his court appearance in the Bellville Magistrate s Court on Thursday.
He is accused of the murder of Anti-Gang Unit detective Charl Kinnear.
The East Rand self-proclaimed private investigator s message to all who could read it in court continued with the words Framed , Saps Cover up and God knows the truth written in a large school bag font.
GameStop (GME) Stock Price and Forecast: Shares remain strong as traders bet on new CFONEWS |
3/2/2021 3:55:00 PM GMT | By Ivan Brian
Gamestop shares at $126.61 up 5% on Tuesday.
GME shares still one of the top trending stocks on social media.
Traders are betting on a new CFO revitalizing the business.
Update March 2: Gamestop hasn t gone away and is up 5% during Tuesday s regular session at $126.61. GME shares have recovered recently on the back of news that Gamestop s CFO is stepping down. Social media speculation is rife that activist investor and Gamestop board member Ryan Cohen will be able to use his influence in the appointment of the new CFO, brining in someone with online retail experience. Gamestop shares had earlier rallied a18% on Monday.