eToro to go public through $10B SPAC Merger

eToro to go public through $10B SPAC Merger

Etoro a social trading platform is likely to be next Fintech Company to be publicly listed in the United States by aligning with blank check firm.

Social trading platform EToro could become the next Fintech player to pursue a public listing in the United States by merging with a blank check firm.

Etoro is in negotiation  with FinTech Acquisition Corp V, which a company that is a special purpose Acquisition Company (SPAC), which is owned by a Besty Cohen,  a Philadelphia veteran, which is likely to be a $10 billion merger.

The equity share of which Etoro and SPAC is estimated to be about $650 million. The investors that they are hoping to invest in the equity share are Softbank Vision Fund 2 and Fidelity Management and Research Company

As cash in a trust raised in December, 2020 it was opined that Fintech V holds about $250 million. The company that is to be formed by the merger is to hold about $800 million, which is the net cash reserves on its balance sheet and which has been opined that it will be set aside for prospective growth plans.

There have been unconfirmed news that Etoro is considering a public listing in the United States  and there have been rumours that before the end of second quarter of 2021, there will

 

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