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Diginex Moves Closer to Backdoor Nasdaq Listing With Merger Approval

diginex-moves-closer-to-backdoor-nasdaq-listing-with-merger-approval

Blockchain services firm Diginex is officially merging with publicly traded 8i Enterprises Acquisition Corp., a key part of its plan for a “backdoor” Nasdaq listing.

  • Announced Wednesday, 8i shareholders overwhelmingly approved the proposed “business combination transaction” with Hong Kong-based Diginex at a special meeting, with 81% in favor.
  • Diginex is the parent company of derivatives platform EQUOS.io which had been hoping to become the U.S.’s first publicly traded crypto exchange later this month.
  • It was pipped to the post, though, with Gibraltar-based INX Ltd. recently launching its SEC-registered security token IPO, aiming to raise $117 million.
  • Diginex’s ecosystem also includes digital asset trading technology platform Diginex Access and securitization advisory firm Diginex Capital, as well as a digital asset custody provider and an investment management business.
  • The company received approval from the Securities and Exchange Commission for the merger with 8i back in February.
  • The news marks “significant milestone” in that process, said Diginex’s CEO Richard Byworth, with both parties expecting a close of the transaction later in the month.
  • Shareholder approval during unprecedented market conditions was a “testament” to the digital assets industry, Byworth noted.
  • Following the deal’s closure, the exchange’s shares are expected to be traded on the New York-based Nasdaq stock exchange under the ticker symbol “EQOS.”
  • The British Virgin Islands-based “blank check” company 8i is a special-purpose acquisition shell company that uses funds from their initial public offerings (IPOs) to acquire target companies.

https://www.coindesk.com/shareholders-crypto-exchange-diginex-merger-nasdaq-listing

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