BCSA (BCS) to acquire Linqto at $700M enterprise value via SPAC merger

Blockchain Coinvestors Acquisition Corp. I

Enterprise value of Linqto ~$700M; Linqto shareholders to receive newly issued BCSA shares.
Deal expected to close H2 2024; BCSA will redomesticate from Cayman Islands to Delaware.
Sponsor agrees to forfeit all private placement units and hold ≤4M New Linqto shares post-close.
If deal terminates, Linqto must pay BCSA a $5M termination fee within 30 days.
Transaction requires approvals from BCSA shareholders, Linqto shareholders, Nasdaq, and FINRA.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Blockchain Coinvestors Acquisition Corp. I entered into Business Combination Agreement with Linqto, Inc. valued at approximately $700 million (effective 2024-04-09).

Action: entry
Agreement: merger
Counterparty: Linqto, Inc.
Value: approximately $700 million
Effective: 2024-04-09

Exact text from the filing

On April 9, 2024, Blockchain Coinvestors Acquisition Corp. I, a Cayman Islands exempted company (“ BCSA ”), entered into a Business Combination Agreement (the “ Business Combination Agreement ”), by and among BCSA, BCSA Merger Sub I, Inc., a Delaware corporation (“ Merger Sub ”), and Linqto, Inc., a Delaware corporation (“ Linqto ”).

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Source: SEC EDGAR

accession 0001213900-24-031672

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