Blockchain Payments Company Roxe on Brink of Going Public in $3.6 Billion SPAC Deal

Blockchain Payments Company Roxe on Brink of Going Public in $3.6 Billion SPAC Deal #Blockchain #Payments #Company #Roxe #Brink #Public #Billion #SPAC #Deal Welcome to JibGlobe, here is the new resources we have for you today:

Roxe Holdings, a blockchain payments firm is about to become a public company but will not go through the route of getting an initial public offering (IPO). Instead, it will be getting help from a Special Purpose Acquisition Company (SPAC) to complete the process.

On Tuesday, executives of blockchain payments firm Roxe announced that it had struck a deal with Goldenstone Acquisition Ltd to take the company public. The deal is suggested to be around $3.6 billion and will have Roxe listed on the Nasdaq Stock Market upon completion.

The deal was inked after a consensus was reached by both Roxe’s and Goldenstone’s shareholders. Under the new structure, Goldenstone Acquisition will be renamed Roxe Holding Group Inc with Roxe’s shareholders carrying all their holdings into the merger. According to the finer details of the deal, some stockholders are entitled to more shares in the event stock price milestones are met.

Goldenstone’s CEO Eddie Ni suggested that the deal would be completed in the first quarter of 2023 while he extolled the offerings of Roxe. He expressed belief in the “opportunity for blockchain to transform payments” and in “Roxe’s adherence to a compliant, robust strategy”

Not the first rodeo

Roxe’s founder Haohan Xu is no stranger to the intricacies of a SPAC merger. ‘Early in the year, he entered an agreement to take cryptocurrency exchange Apifiny public in a deal worth $530 million,

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