Benzinga | Jan 27, 2022 08:08AM EST

Apifiny Group Inc. Announces Plans To List On NASDAQ Via Merger With Abri SPAC I, Inc.

* Apifiny Group Inc. a blockchain technology company focused on developing a global trading network for the digital assets sector, announced its intention to go public through a merger with Abri SPAC I, Inc. (NASDAQ:ASPA, ASPAW, ASPAU))))), a special purpose acquisition company.

* Apifiny aims to unify the fragmented global digital asset trading markets and to empower institutional investors with a seamless global marketplace and trading platform.

* The business combination of Apifiny and Abri has a pro forma enterprise value at signing of approximately $530 million at $10 per share, which includes $57 million from Abri's cash-in-trust account.

* Apifiny stockholders will roll 100% of their equity into the combined company.

* There is no minimum cash requirement.

* Access to capital markets will enable Apifiny to accelerate growth and enhance its unique technology base offering.

* Transaction is expected to close in Q3 2022