Crypto company Cube plans to go public through a SPAC transaction and will spend $500 million to purchase SOL reserves before the merger is completed

PANews reported on October 22nd that Mercer Park Opportunities Corp. (TSX: SPAC.U), a special purpose acquisition company, announced that it has signed a definitive business combination agreement with Cube Group, Inc., an innovator in hybrid digital asset trading. The transaction values Cube at US$300 million and, subject to regulatory approval, is expected to create a publicly listed entity. The entity plans to acquire a reserve of Solana tokens (SOL) for US$500 million prior to closing to enhance liquidity, revenue generation, and long-term value creation. Following completion of the transaction, the combined company will operate under the name Cube Exchange Inc. The transaction is subject to approval by the Toronto Stock Exchange. Mercer Park has also agreed to use reasonable efforts to promptly seek a dual listing on Nasdaq following the closing of the transaction. Mercer Park expects the transaction to close in the first quarter of 2026.

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