Bitcoin firm BTCS and tech start-up Spondoolies seal definitive merger agreement

BTCS Inc (OTCMKTS:BTCS), formerly known as Bitcoin Shop, today announced the signing of a share purchase agreement with Israeli tech start-up Spondoolies-Tech Ltd.

Under the agreement, Spondoolies will become a wholly-owned subsidiary of BTCS after the closing of the transactions envisaged in the document.

After the completion of the Transaction, the BTCS’ shareholders will own a 55.4% to 54.4% stake in the combined company and Spondoolies’ shareholders will own a 44.6% to 45.6% of the combined company, based on the number of the BTCS’ securities outstanding immediately following the Transaction.

The signing of the definitive merger agreement comes after in April this year, the companies signed a Letter of Intent to merge. In May, Spondoolies said it had managed to attract investment worth $1.5 million from BTCS (which back then was known as Bitcoin Shop).

To view the official SEC filing about the merger, click here.

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Bitcoin firm BTCS and tech start-up Spondoolies seal definitive merger agreement


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