Apifiny Group, a global cross-exchange digital asset trading network based in New York, today announced a merger agreement with Abri SPAC I. The deal has a pro forma enterprise value of approximately $530 million and is expected to close by the third quarter, pending shareholder approval.
The transaction calls for the contribution of up to $57 million of cash held in Abri’s trust account, subject to redemptions. The news release makes no mention of PIPE financing or any other funding sources.
Apifiny stockholders are expected to roll 100% of their equity into the combined company. Abri and Apifiny have each agreed that the combined company will satisfy all Nasdaq listing requirements at the close of the business combination and no specific minimum cash requirement exists. Read more.
