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SPAC Bridgetown Holdings (NASDAQ:BTWN), which is backed by billionaire Peter Thiel, has agreed to merge with Southeast Asian fintech MoneyHero (MNY), previously often called Hyphen Group.
The deal values MoneyHero at a pre-money enterprise worth of $200M and fairness worth of round $198M. The mixed firm would have an enterprise worth of $342M, assuming no redemptions by Bridgetown shareholders and together with roughly $154M from Bridgetown’s belief account, based on an announcement.
Shares of the mixed firm are slated to commerce on Nasdaq beneath the image MNY. The deal is anticipated to shut in the course of the latter half of the yr.
Bridgetown held its preliminary public providing in October 2020, elevating $550M. The SPAC is backed by Pacific Century Group and Thiel Capital.
Extra on Bridgetown:
SPAC Bridgetown close to cope with fintech Hyphen Group – report
SPAC Bridgetown stated contemplating deal to take Circles.Life public
