Welcome to our dedicated page for FTCVW news (Ticker: FTCVW), a resource for investors and traders seeking the latest updates and insights on FTCVW stock.
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FinTech Acquisition Corp. V (NASDAQ: FTCV) will dissolve and liquidate due to not completing a business combination by December 9, 2022. The company will redeem its Class A common stock at approximately $10.08 per share. Following liquidation, Public Shares will be regarded as canceled, entitling holders only to the redemption amount. The trust account will be liquidated, and proceeds will be distributed excluding $100,000 for dissolution expenses. Sponsors have waived redemption rights for Class B shares, and warrants will expire worthless. Nasdaq plans to delist the securities shortly after.
eToro Group Ltd. and FinTech Acquisition Corp. V have announced a definitive business combination agreement, aiming for a public listing on NASDAQ. The transaction implies an equity value of approximately $10.4 billion for eToro. In 2020, eToro added over 5 million registered users and generated $605 million in gross revenues, reflecting a 147% year-over-year growth. The business combination will include a $650 million private placement from notable investors. eToro is positioned to benefit from the rise in digital wealth platforms and mainstream crypto adoption.
