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Bloomberg: CoinShares to Go Public in the U.S. via Merger at $1.2 Billion Valuation
BlockBeats News, September 8th, according to Bloomberg, cryptocurrency asset management company CoinShares International Ltd. has agreed to go public in the United States through a merger with blank-check company Vine Hill Capital Investment Corp.
According to the company's statement, the transaction values CoinShares at $1.2 billion pre-merger. CoinShares is known for its cryptocurrency exchange-traded products and currently manages assets of about $10 billion. The company's stock currently trades on the Stockholm Nasdaq Exchange and will apply to delist from the Swedish Stock Exchange after the merger is completed.
Upon completion of the transaction, the merged entity will be renamed Odysseus Holdings Limited (referred to as Holdco). The transaction has secured $50 million in common stock investment commitments from institutional investors and is expected to be completed by the end of the fourth quarter of this year.
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