MoneyHero Group Merging with Bridgetown Holdings in $198M Deal

CompareAsia Group Capital Limited's MoneyHero and Bridgetown Holdings announced today that they have entered into a business combination agreement.

If approved, upon closing MoneyHero shares and warrants are expected to trade on the Nasdaq under symbols MNY and MNYWW.

Bridgetown is backed by Richard Li and .

The combined company will have an enterprise value of approximately $342 million on a post-money basis, including up to approximately $154 million of cash held in Bridgetown's trust, assuming no redemptions.

All MoneyHero existing shareholders, including PCCW, FWD, and Goldman Sachs will roll 100% of their equity into the combined company.

Founded in 2014 and dual-headquartered in and Hong Kong, MoneyHero Group, formerly known as Hyphen Group or CompareAsia Group, is a personal finance aggregation and comparison company in Greater Southeast , operating in Singapore, Hong Kong, Taiwan, the Philippines and Malaysia.

The deal is expected to close in the third or fourth quarter of 2023. Read more.

Source: MoneyHero Group Merging with Bridgetown Holdings in 8M Deal