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Bitcoin Depot completes business combination, begins public trading
July 5, 2023
Lux Vending LLC, operating under the name Bitcoin Depot, and GSR II Meteora Acquisition Corp. have closed on a business combination and will be renamed Bitcoin Depot Inc. In addition, the company's common stock and public warrants are now live on the Nasdaq under the symbols BTM and BTMWW, according to a press release.
"The closing of the transaction and our listing on Nasdaq is an important milestone and an incredibly proud moment for the entire Bitcoin Depot team," Brandon Mintz, CEO and founder of Bitcoin Depot, said in the release. "Bitcoin Depot is well positioned with the largest market share in North America and the additional capital from this transaction will help support our numerous growth opportunities while advancing our mission to safely, (and) securely bring bitcoin to the masses."
"We are excited to complete our business combination with Bitcoin Depot and help support its growth strategy," Gus Garcia, co-CEO and director of GSRM, said in the release. "Bitcoin Depot has a significant market share and continues to expand its footprint to provide greater access to the broader digital financial system. We believe Bitcoin Depot is poised to continue its momentum to take advantage of the highly fragmented bitcoin ATM market both domestically and overseas."
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