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Crypto asset management firm ReserveOne and SPAC terminate $1 billion merger

MarsBitNews
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Mars Finance News: Cryptocurrency asset management firm ReserveOne's merger with special purpose acquisition company (SPAC) M3-Brigade Acquisition V Corp. (MBAV) has been declared a failure, sources familiar with the matter revealed. Due to at least two major investors of ReserveOne demanding to terminate the sale, this $1 billion deal ultimately collapsed. 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 net asset value, and combined with the transaction fees paid to bankers and sponsors, it would not be economically viable.
BTC-4.40%
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