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06/24 05:31

Zcash miner Fortitude grabs Nasdaq route through H

#World Cup Predictions: 100,000 USDT Daily Zcash miner Fortitude grabs Nasdaq route through HeartSciences deal Zcash miner Fortitude Mining Holdings has secured a path to the public markets through an all-stock merger with HeartSciences, a transaction that will place the crypto mining company on the Nasdaq without a traditional IPO. According to a joint announcement released Tuesday, Fortitude and HeartSciences have agreed to combine in a deal that will leave Fortitude’s management team in control of the merged company. The business is expected to operate under the Fortitude name and trade on Nasdaq under the ticker symbol TUDE, subject to regulatory approvals. Under the terms of the transaction, existing HeartSciences shareholders will retain a minority ownership stake. HeartSciences, which develops AI-powered cardiac diagnostic technologies, will continue operating under the leadership of chief executive Andrew Simpson. Explaining the decision, Simpson said the merger would help remove what he described as the “constant cycle of raising capital” while offering what the company believes is the most favorable outcome for shareholders. Although the two companies operate in unrelated industries, the structure effectively gives Fortitude access to public equity markets through an already listed Nasdaq company. For HeartSciences, the agreement provides continued exposure to a publicly traded entity while allowing its healthcare operations to remain active. Fortitude gains public listing without an IPO Rather than pursuing a conventional stock market debut, Fortitude is following a route that several crypto firms have previously used to reach public investors. According to the companies, the transaction is structured as a merger that will result in Fortitude taking over the public listing. Similar approaches have been used elsewhere in the sector. Bitcoin mining company Core Scientific entered public markets through a SPAC merger in 2022, while Cipher Mining also

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