SEF’s merger with gaming company would create first US bitcoin derivatives exchange
Tera Group, owner of US swap execution
facility (SEF), TeraExchange, is set to merge with gaming
company MGT Capital Investments.
The gaming firm has entered into a Letter
of Intent (LOI) with the SEF, under which the companies are set
to finalise and execute a definitive deal by March 16.
Once a deal has been agreed, MGT will file
a combination S-4 Prospectus and Proxy Statement with the
Securities and Exchange Commission (SEC). Upon agreement, and
subject to stockholder approval, MGT will issue shares of its
common stock to the current owners of Tera, representing 70% of
the pro forma equity of the combined companies at closing, said
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