FTAC Emerald Acquisition Corp Extends Deadline for Business Completion
FTAC Emerald announced in a recent filing with the Securities and Exchange Commission (SEC) that they have entered into a definitive merger agreement with Payoneer. This move will make Payoneer a publicly listed company, as it will merge with FTAC Emerald, a special purpose acquisition company (SPAC). The merger is expected to close in the first half of 2021, subject to regulatory approvals and other customary closing conditions.
Payoneer is a fintech company that provides online money transfer and digital payment services. By going public through this merger, Payoneer aims to accelerate its growth and expand its global reach. The company operates in over 200 countries and serves millions of customers, including freelancers, online sellers, and businesses.
The merger with FTAC Emerald will provide Payoneer with significant capital to further invest in its platform and technology, as well as to pursue strategic initiatives. The transaction values Payoneer at an estimated pro forma enterprise value of approximately $3.3 billion, with the merger expected to provide up to $563 million in gross proceeds to the combined company.
The announcement of this merger has generated a lot of interest in the financial and tech communities, as it represents a significant milestone for Payoneer and the broader fintech industry. Investors are keeping a close eye on the developments surrounding the merger, which is expected to shape the future trajectory of Payoneer as a public company.
Overall, the merger between Payoneer and FTAC Emerald is poised to create opportunities for both companies to drive innovation, expand their market presence, and deliver value to their shareholders. As the transaction progresses towards closing, stakeholders will be watching closely to see how this strategic move unfolds in the dynamic landscape of the finance and technology sectors.
