Broad Capital Acquisition to Merge With Openmarkets Group in $90M Deal

Openmarkets, which provides trading and wealth management solutions, and Broad Capital Acquisition announced today that they have entered into a definitive merger agreement at an enterprise value of $90 million.

If approved by Broad Capital's shareholders, the transaction is expected to close in the second quarter. OMGL Holdings Ltd, currently an Australian public company, is expected to list on the .

In addition to the $90 million base consideration, the deal includes another potential $20 million in earnout over two years, subject to certain revenues.

Broad Capital raised nearly $102 million in an IPO a year ago. Read more.


Source: Broad Capital Acquisition to Merge With Openmarkets Group in M Deal