Tokenization infrastructure company tZERO plans to go public. It will merge with special purpose acquisition company FG Imperii Acquisition Corp. The deal values tZERO at a pre-money equity valuation of $350 million.
Transaction terms
The combined company may receive up to $231 million from FG Imperii's trust account. Existing tZERO shareholders are expected to roll 100% of their equity into the new entity. The deal also includes a forward purchase agreement for up to 2.5 million shares.
About tZERO
tZERO has operated at the intersection of blockchain and regulated markets since 2014. The company holds a portfolio of more than 100 blockchain patents. Its current CEO, Alan Konevsky, is expected to continue leading the combined company.
Infrastructure as a service
tZERO provides infrastructure for issuing, trading, and settling tokenized assets. Its services cover securities and derivatives through various regulated subsidiaries. The company offers its capabilities to institutional partners through APIs and white-label solutions.
The transaction is expected to close in early 2027. It requires approvals from shareholders and regulators. Upon closing, the combined company’s stock is expected to trade on the NYSE American under the ticker "TZRO."