The Bitcoin-based cashback app will go public on the Nasdaq after a SPAC deal that’s expected to wrap up by the end of this year.
Bitcoin-based rewards app Fold has announced plans to launch as a publicly traded company on the Nasdaq at an implied valuation of $365 million.
Fold inked an agreement to go public by way of a business combination deal with special purpose acquisition company (SPAC) FTAC Emerald Acquisition, according to a July 24 statement.
Unlike a traditional IPO — where a private company issues new shares and then sells them on a public exchange — a SPAC transaction occurs when a private company goes public by merging with a shell company.
