Lux Vending (dba Bitcoin Depot®) and GSR II Meteora Acquisition today announced a merger agreement with a post-transaction enterprise value of $755 million. If approved, the fintech and Bitcoin ATM operator would trade on the Nasdaq under new ticker symbol BTM.
Net proceeds will consist of up to $321 million of cash held in the SPAC’s trust account and will be used to support Bitcoin Depot’s working capital, complete acquisitions, and scale its platform and suite of products.
Bitcoin Depot in the press release said it has conducted $1.2 billion of transaction volume since its launch in 2016, with LTM net income of $6 million (unaudited); and LTM adjusted EBITDA (non-GAAP) of $38 million (unaudited). Read more.
