TradeStation Group and Quantum FinTech Acquisition filed an investor presentation on their proposed merger, which carries 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 the year.
Announced in November, the deal would provide approximately $316 million of cash, consisting of $201 million held in Quantum FinTech’s trust, and a $115 million PIPE, which has since been expanded to $125 million. 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 would own approximately 80% of the company at closing. Monex’s shares in TradeStation will also be subject to lock-ups, some up to three years. Read more.
