Bitcoin Depot, a leading US-based Bitcoin ATM operator, announced on June 30 that it has successfully completed a business combination with GSR II Meteora Acquisition Corp.
The company will be renamed Bitcoin Depot Inc. and will start trading on Nasdaq from July 3rd, 2023 under the ticker symbols “BTM” for common stock and “BTMWW” for public warrants.
The business combination was approved at a special meeting of GSRM stockholders held on June 28, 2023, and the transaction closed on June 30, 2023. Bitcoin Depot will continue to be led by its existing management team after the transaction.
“The closing of the transaction and our listing on Nasdaq is an important milestone and an incredibly proud moment for the entire Bitcoin Depot team,” said Brandon Mintz, CEO and Founder of Bitcoin Depot.
The decision to merge and list on Nasdaq reflects Bitcoin Depot’s commitment to expanding its operations and increasing accessibility to Bitcoin ATMs across the country. The move also signals the company’s growth and the increasing acceptance of cryptocurrency-related businesses in traditional financial markets.
With this merger, Bitcoin Depot aims to capitalize on the growing cryptocurrency market, leveraging its position as one of the largest Bitcoin ATM networks in the United States.
It’s expected that the listing will enhance visibility, improve liquidity, and broaden its investor base, which can facilitate the firm’s future growth strategies.