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CoinShares plans to go public in the United States through a merger and conduct a $50 million private sale.
According to a news report by Globe Newswire on September 8, European digital asset management company CoinShares announced a joint merger plan with special purpose acquisition company Vine Hill Capital and newly established Odysseus Holdings, intending to move its listing from the Stockholm Nasdaq exchange to the Nasdaq or other exchanges in the United States. The transaction values CoinShares at approximately 1.13 billion Swedish Krona (approximately 1.2 billion USD), representing a premium of 30.6% over its closing price on September 5.
After the transaction is completed, existing shareholders of CoinShares will receive 78.4%-91.6% of the shares and voting rights of Odysseus Holdings. At the same time, CoinShares plans to complete a private placement of 50 million dollars at a price of 10 dollars per share.