EToro to go public through $10.4 billion merger with Betsy Cohen-backed SPAC

(Reuters) – EToro, a rival of online brokerage Robinhood, said on Tuesday it had agreed to go public through a merger with a blank-check firm backed by banking entrepreneur Betsy Cohen, valuing the equity of the combined firm at $10.4 billion. The deal with FinTech Acquisition Corp V, a special purpose acquisition company, will include a $650 million common share private placement from leading investors including Softbank’s Vision Fund 2, Fidelity Management & Research Co LLC, and Wellington Management. Founded in 2007, eToro has 20 million registered users who can manually invest in cryptocur…

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HEDGE accordingly