Yesterday Nasdaq listed Netfin announced that it completed its ‘business combination’ with Triterras Fintech, the Singapore firm that owns the Kratos blockchain trade and trade finance platform. As part of what is effectively the listing of Triterras as a unicorn, some revenue and other financial details were shared. [Update: Triterras has been sued and is being targeted by short sellers.]
Netfin was a special purpose acquisition company (SPAC) with more than $250 million in cash on its balance sheet. Back in June, when the deal was first revealed, the announcement said that the pre-money equity value of Triterras would be around $670 million and post-money $939 million.
With a current stock price of $12.15 and 83.196 million shares, the merged company is worth slightly more than a billion dollars.
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