BLOCKCHAIN COINVESTORS ACQUISITION CORP. I By Will Feuer
Blockchain Coinvestors Acquisition Corp. I, a special-purpose acquisition company, said it has agreed to merge with Qenta Inc., a financial-technology company, in a deal that the companies said will value the combined company at $904 million.
Qenta said it is seeking to digitize all the world's assets and transactions and it started with the precious metals sector by introducing what it calls digitized Responsible Gold.
The deal is expected to close in the first half of 2023. The current Qenta shareholders will continue to own about 54% of the combined company. The SPAC's current public shareholders will own about a third of the company.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
11-10-22 0907ET
