Blockchain payment company Roxe to go public via $3.6 bln SPAC deal

Blockchain payment company Roxe to go public via $3. June 21 – Blank check company Goldenstone Acquisition Ltd said late on Tuesday that it has entered into a deal with blockchain-based payments company Roxe Holding Inc to take it public for a combined enterprise value of about $3.6 billion. None of the Roxe investors plan to sell their stakes, according to the sources. Roxe stockholders will roll 100% of their equity into the combined company and certain stockholders are entitled to an earnout for additional shares in the combined entity if certain stock price targets are met, Goldenstone said in a statement.

Founded in 2019, Roxe connects banks, payment firms and remittance companies, facilitating cross-border payments using their private blockchain tokens. This would be Roxe’s founder Haohan Xu’s second SPAC merger this year after he agreed to take crypto exchange Apifiny public earlier this year in a $530 million deal. Upon closing of the transaction, Goldenstone will be renamed as Roxe Holding Group Inc and listed on the Nasdaq.

Read original article. Source: ECHO WANG | REUTERS.COM

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