Blockchain-based payments company Roxe Holdings is nearing a deal to go public through a merger with blank check company Goldenstone Acquisition Ltd at a combined valuation of $3.65 billion, Reuters reports, citing sources familiar with the matter.
The deal bucks an unfavorable market environment with cryptocurrencies plunging in value and investors largely losing interest in SPACs of this sort partly because of disappointing returns.
None of the Roxe investors plans to sell their stakes, the sources said. Goldenstone raised just $57.5 million in its initial public offering in March this year, a sliver of the deal’s value. Read more.
