GSR II Meteora Acquisition Files Prelim Proxy on $755M Bitcoin Depot Deal

GSR II Meteora Acquisition outlined its proposed combination with Depot in a proxy filing today.

The is a fintech and Bitcoin ATM operator. The deal at announcement in August had a -transaction enterprise value of $755 million. Net proceeds are expected to consist of up to $321 million of cash held in the SPAC's trust and will be used to support Bitcoin Depot's working capital, complete acquisitions, and scale its platform and suite of products.

If the deal is approved, post closing BT Assets will own approximately 51% of the merged company's outstanding common stock, and which will represent 91.5% of the voting power in in the new company. As a result of the voting power controlled by BT Assets, Bitcoin Depot will qualify as a “controlled company” within the meaning of listing rules. Read more.

Source: GSR II Meteora Acquisition Files Prelim Proxy on 5M Bitcoin Depot Deal