Bitcoin Depot Completes Merger and Begins Trading on Nasdaq

Bitcoin Depot Completes Merger and Begins Trading on Nasdaq

Bitcoin Depot, a prominent Bitcoin ATM operator based in the United States, announced on June 30 that it has successfully concluded a business combination with GSR II Meteora Acquisition Corp.

Following the transaction, the company will be renamed Bitcoin Depot Inc. and is set to commence trading on Nasdaq from July 3, 2023. The common stock will trade under the ticker symbol “BTM,” while the public warrants will trade under the symbol “BTMWW.”

The business combination received approval at a special meeting of GSRM stockholders held on June 28, 2023, and the transaction was finalized on June 30, 2023. Bitcoin Depot’s existing management team will continue to lead the company after the merger.

Brandon Mintz, CEO and Founder of Bitcoin Depot, expressed pride in the closing of the transaction and the company’s forthcoming listing on Nasdaq. He described it as a significant milestone for the entire Bitcoin Depot team.

The decision to merge and list on Nasdaq underscores Bitcoin Depot’s dedication to expanding its operations and increasing the accessibility of Bitcoin ATMs throughout the country. Furthermore, it signifies the company’s growth trajectory and the growing acceptance of cryptocurrency-related businesses in traditional financial markets.

By capitalizing on its position as one of the largest Bitcoin ATM networks in the United States, Bitcoin Depot aims to seize opportunities in the thriving cryptocurrency market. The listing on Nasdaq is expected to enhance visibility, improve liquidity, and broaden the company’s investor base, thereby facilitating its future growth strategies.

Compiled by Coinbold