Betsy Cohen-backed blank-check company FinTech Acquisition Corp V said on Thursday it had amended the terms of its merger with Israel’s eToro, cutting the online stock brokerage’s valuation to $8.8 billion from $10.4 billion.
The deal with the blank-check company was announced in March and drew investments from venture capital firms SoftBank’s Vision Fund 2, Fidelity Management & Research Co LLC and Wellington Management.
Special purpose acquisition companies, or SPACs, are shell companies that use proceeds from an IPO to take private firms public.
Read more/Source: Reuters
