Crypto asset management firm ReserveOne terminates $1 billion merger with SPAC

robot
Abstract generation in progress

BlockBeats News, June 18 — The merger between cryptocurrency asset management company ReserveOne and special purpose acquisition company (SPAC) M3-Brigade Acquisition V Corp. (MBAV) has been declared a failure. Sources familiar with the matter revealed that the deal, valued at $1 billion, ultimately collapsed because at least two major investors in ReserveOne demanded to terminate the sale.

Investors believe that since the merger was announced nearly a year ago, the prices of Bitcoin and other tokens have plummeted significantly. If ReserveOne were to go public now, its stock price would inevitably be below its net asset value, and combined with the transaction fees paid to bankers and sponsors, it would not be economically viable.

BTC-4.83%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned