Mining firm Tomorrow Crypto looks to go public through SPAC merger

08/04 11:30

According to Coindesk, Tomorrow Crypto, a bitcoin (BTC) and ether (ETH) mining infrastructure company, is looking to go public through a proposed a merger with Nasdaq-listed blank cheque firm Globalink Investment (GLLI). The proposed merger values Tomorrow Crypto at $310 million and is expected to close in Q4 2022 subject to stockholder and regulatory approval, according to a Securities and Exchange Commission (SEC) filing on Thursday. The transaction is expected to deliver gross proceeds of up to $131.7 million, which includes up to $116.7 million of cash held in Globalink's trust account. Net proceeds will be used for working capital and growth capital expenditure.
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