The two companies submitted a draft registration statement on Form F-4 to the SEC, which is technically not an IPO prospectus. After many publications in the media about the Israeli trading company’s intentions to go public, in March, eToro confirmed its plans to merge with blank check company FinTech Acquisition Corp. V and become listed on NASDAQ.…
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The announcement stated that existing eToro equity holders will retaining 91% ownership following the merger with FinTech V. The board of the directors of both companies have unanimously approved the merger, however it is still pending stockholder approvals. The deal is expected to close in the third quarter of 2021. Betsy Cohen, Chairman of the…
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Founded in 2007, eToro has become one of the major trading platforms in Europe, seen as a rival of Robinhood. The Israeli platform has 20 million registered users in dozens of countries. Fintech Acquisition Corp V is part of Special-purpose acquisition companies (SPACs), also known as black "blank check companies", led by well-known business person…
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