As part of a collaboration with SPAC company Vine Hill and Odysseus Holding, cryptocurrency firm CoinShares has announced plans to switch its share listing to Nasdaq in the United States.
Currently, CoinShares shares are listed on the Stockholm Stock Exchange. According to the company's estimates, the total consideration for its shareholders amounts to approximately SEK 11.3 billion, or $1.2 billion (pre-money). This equates to around SEK 173.2 per common share, representing a premium of roughly 30.6 percent compared to the closing price on September 5.
The transaction is expected to be completed by December 17 this year. As part of the deal, CoinShares intends to carry out a directed share issue worth $50 million, targeting an institutional investor who will provide the capital.
The decision comes amid a broader trend of crypto companies moving to the US. Since Donald Trump returned to the presidency, the country has begun to adopt an increasingly favorable stance towards cryptocurrencies.
"The US is now acting as a melting pot for the digital asset market. By listing in the US, CoinShares is positioning itself to meet growing investor demand and to participate more fully in the development of this emerging industry," said CEO Jean-Marie Mognett.
