Linqto to go public via $700m SPAC merger with BCSA

The transaction will see the platform continue to operate under the Linqto brand, but as a subsidiary of BCSA

US digital investment platform Linqto is set to go public following a merger with special purpose acquisition company (SPAC) Blockchain Coinvestors Acquisition Corporation 1 (BCSA).

Founded in 2020, California-based Linqto offers investors a means to make liquid investments in mid-to-late stage tech companies, in particular those originating from the fintech, blockchain and auto sectors.

Linqto’s outstanding common equity is to be cancelled. Shareholders are to receive shares in BCSA at an implied enterprise value of around $700 million.

For BCSA, terms of the transaction require its reincorporation from Delaware to the Cayman Islands prior to the deal closing, with its outstanding ordinary shares to be converted into shares of common stock in the Delaware entity on a one-for-one basis.

Both parties say they have unanimously approved the terms and expect to close the deal before the end of 2024. This is subject to the approval of shareholders and other customary closing conditions.

Joe Endoso, chief executive officer of Linqto, said: “The merger will further enhance our platform, as our focus remains on driving growth and expanding opportunities in the private markets”.

Images: Linqto, BCSA

Robert Welbourn Robert Welbourn is an experienced financial writer. He has worked for a number of high street banks and trading platforms. He's also a published author and freelance writer and editor.