TradeStation Group and Quantum FinTech Acquisition plan to merge in a deal with a $1.43 billion implied pro forma valuation.
TradeStation provides trading and analysis platforms and self-clearing online brokerage services for stocks, ETFs, equity and index options, commodity and financial futures, futures options, and cryptocurrencies.
If the deal is approved, TradeStation will list on the NYSE under TRDE. The transaction is expected to close in the first half of next year.
Assuming no redemptions by Quantum FinTech shareholders, the transaction will provide approximately $316 million of cash, consisting of approximately $201 million of cash held in Quantum FinTech’s trust, and a $115 PIPE . The PIPE includes, as co-anchor investments, $50 million from Monex and $50 million from Galaxy Digital, which is affiliated with Galaxy Digital Holdings.
Monex is TradeStation’s sole shareholder. Monex is estimated to own approximately 80% of the company at closing. Monex’s shares in TradeStation will be subject to lock-ups, some up to three years. Read more.
