eToro Nears Merger With SPAC: Report

Trading platform eToro could announce as early as today a plan to go public via a merger with a special purpose acquisition company (SPAC), according to a report by Bloomberg citing people with knowledge of the matter.

  • The deal with FinTech Acquisition Corp. V would value the combined entity at about $10 billion, the report said.
  • FinTech Acquisition Corp. V is led by Betsy Cohen, who has been involved with several other SPACs, including one that took Perella Weinberg public, Bloomberg said.
  • Representatives for both companies declined to comment, the report said.
Read more: eToro Said to Be in Talks With Goldman About Possible $5B IPO: Report

A deal could be announced as early as Tuesday.

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eToro to Go Public Via Merger With SPAC; Combined Firm to Have $10.4B Value