Back to the list

Roxe And Goldenstone Merge Deal is Worth $3.6 billion


cryptoknowmics.com 22 June 2022 05:00, UTC
Reading time: ~2 m

The company Roxe Holding, which specializes in blockchain-based payments, announced on Tuesday that it had agreed to merge with Goldenstone Acquisition, a provider of blank checks, in a deal with a total estimated value of $3.6 billion. According to a release, Roxe will become a publicly traded corporation on the Nasdaq Stock Market when shareholders of Roxe and Goldenstone approve the merger. Notable purpose acquisition companies (SPAC), sometimes known as "blank check" firms, are organizations without any commercial operations that seek an IPO to combine with private businesses to float them on the stock market. A merger of this kind continues to fly in the face of a weakening crypto market. It is waning investor interest in these vehicles due to a lack of returns. However, several SPAC transactions, such as Circle's plans to IPO with a $9 billion enterprise valuation, were revealed in February. Provide a functional solution for blockchain and cryptocurrency companies looking to list significant traditional exchanges. "Roxe Holding Group Inc." will replace the name "Goldenstone." Investors in Roxe anticipate transferring all of their equity to the merged business.

Goldenstone said in a statement, ''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''

Roxe Supports Variety of Assets

According to its website, Roxe is a blockchain infrastructure company. Its blockchain-based on a permissioned hybrid model. It supports a variety of assets, including digital fiat, central bank digital currency, stablecoins, gift cards, gaming tokens, loyalty points, and stocks. Roxe uses its private tokens to enable money transfers and remittances across 113 countries instead of interacting with popular cryptocurrencies like bitcoin or ether due to the permissioned approach.

Back to the list