Crypto ATM Bitcoin Depot unveils US$885 mln SPAC listing plans


Bitcoin Depot to list in the U.S. through $885 million SPAC deal

The transaction will raise up to $321 million of cash held in GSRM’s trust account and will be used to support Bitcoin Depot’s working capital, complete acquisitions and scale its platform and suite of products. Assuming no redemptions, the combined company will be valued at $755 million, including debt, with an equity value of $885 million and up to $170 million in cash proceeds from the deal, according to a statement. Bitcoin Depot, founded in 2016, is a bitcoin ATM operator in North America that enables users to convert their cash into bitcoin, ethereum and litecoin at more than 7,000 kiosk locations in 47 U.S. states and nine Canadian provinces.