FTAC Emerald Acquisition (EMLD) and financial technology firm Fold said Wednesday that they have agreed to a merger that will result in a Fold becoming a public company.
After completion, the combined company will remain listed on the Nasdaq under a new ticker, according to the joint statement.
The legacy Fold shareholders will own about 71% of the combined company at closing and their equity will be subject to a six-month lockup period.
The transaction is approved by the boards of both companies and is expected to close in Q4.
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