Dogecoin Price Predictions: Will DOGE Trade for Pennies or Dollars in 2021? Payoneer was in talks to go public at a $2.5 billion to $3 billion SPAC deal in December, according to CTech. It has similar growth rates as PayPal or Square, just not the brand recognition. Those traders boosted shares of FTOC stock up with heavy trading before markets closed. All rights reserved. Nasdaq Copyright © The deal will have Payoneey merging with FTAC Olympus Acquisition and the new company will adopt the name Payoneer Global Inc. Scott Galit, CEO of Payoneer, said this about the fintech news boosting FTOC sock up today. Rumors about the deal started popping up in January ahead of any official word about a SPAC merger. January 22, 2021 by IWB. Last year, it disclosed Wednesday, its revenues increased by only 9%, to $346 million, but in 2019 it soared 22%. Fintech start-up Payoneer says it will merge with a special purpose acquisition company, or SPAC, backed by Bancorp founder Betsy Cohen. The deal will have Payoneey merging with FTAC Olympus Acquisition and the new company will adopt the name Payoneer Global Inc. 3. PAYONEER PARTNERS WITH MASTERCARD – MARCH 11, 2021. This new way of doing business requires a global financial platform built for the digital age.”. The current expectation is for the deal to close during the first half of 2021. The merger … The company employs 1,800 people, 800 of them in Israel. The post Fintech News: FTOC Stock Surges on Payoneer SPAC Merger Approval a... 1 month ago - InvestorPlace Why FTAC Olympus Acquisition Corp Just Jumped 10% GameStop Stock is Wound Tighter Than a Magnetic Coil. Payoneer Inc. announced Wednesday an agreement to merge with special purpose acquisition company FTAC Olympus Acquisition Corp. FTOCU, -3.80%, which will effectively take … 1125 N. Charles St, Baltimore, MD 21201. News that Payoneer and FTAC Olympus Acquisition leaked well ahead of this announcement. The deal is expected to have an implied estimated value of about $3.3 billion. Payments Startup Payoneer Said in Merger Talks With Cohen SPAC (FTOC) – Bloomberg. That will supply the newly merged company with $450 million in cash to be used to buy shares from Payoneer stockholders. 2021 InvestorPlace Media, LLC. E-mail Address. Payoneer is going public thanks to a merger with SPAC FTAC Olympus Acquisition (FTOC) and FTOC stock is on the move Wednesday. Payoneer Inc., the online payments firm used by the likes of Airbnb Inc. and Amazon.com Inc., agreed to go public by merging with a blank-check firm led by Betsy Cohen. Find out more about Payoneer Stock. Investor Presentation. SPACs such as Olympus have emerged in recent months as a lower-cost, faster way for companies to go public, compared with a traditional initial public offering. FTAC Olympus Acquisition Corporation is led by entrepreneur Betsy Cohen. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Copyright © 2021 InvestorPlace Media, LLC. 3. “This new way of doing business requires a global financial platform built for the digital age. Under the terms of the agreement, FTOC will acquire Payoneer through a reverse merger, with Payoneer emerging as a publicly traded company. In December, Calcalist reported that Payoneer was in advanced talks to merge with a SPAC for a valuation in the $2.5B-$3B range. The company posted an operating loss last year of $18 million, a figure it expects to widen to $50 million in 2021. Log In Sign Up. FTAC plans to bring Payoneer public with "an implied enterprise value at closing of approximately $3.3 billion." What Is the COIN Stock IPO Price Range? The combined company will have an estimated enterprise value of $3.3 billion. The Payoneer SPAC (FTOC, FTOCU) offers an early entry point into a fast growing digital payments network. Payments Startup Payoneer Said in Merger Talks With Cohen SPAC (Bloomberg) By Gillian Tan and Yaacov Benmeleh (Bloomberg) -- Payoneer Inc., an online payments specialist, is in talks to go public through a merger with FTAC Olympus Acquisition Corp., a blank-check firm, according to people with knowledge of the matter. News of a possible SPAC merger between Ftac Olympus Acquisition and Payoneer caught the eye of investors hungry to make a profit. FTOC stock was up 9.4% as of noon Wednesday. Coinbase IPO: When Does Coinbase Go Public? User account menu. Payoneer Inc., an online payments specialist, is in talks to go public through a merger with FTAC Olympus Acquisition Corp., a blank-check firm, … © Haaretz Daily Newspaper Ltd. All Rights Reserved, Get email notification for articles from Omri Zerachovitz, Israeli startups discover a back door to Wall Street, Israeli startups angle for Wall Street’s big tech party, Startup feeding frenzy: How Israeli high-tech firms are scooping up the cash, Biden Seeks Funding to Probe White Supremacist Beliefs at Immigration Agencies, Biden Calls for Funding to Probe White Supremacist Beliefs at Immigration Agencies, allows e-commerce companies to send and receive money globally. Fintech News: FTOC Stock Surges on Payoneer SPAC Merger Approval, How to Find Hypergrowth Winners No Matter the Market Conditions >>> READ MORE, Louis Navellier and the InvestorPlace Research Staff, The Invesco QQQ ETF Is Finally Ready to Join the Rally, Matt McCall and the InvestorPlace Research Staff, Momentum and Meme Stocks: How to Find the Next Top Reddit Stock of 2021. FTOC Stock & Payoneer SPAC MERGER | FAST GROWTH Payment Fintech Business. Last year, the company processed more than $44 billion in payments and expects the level to reach $85 billion annually within the next two years. For Payoneer, it was the ability to get the price it wanted and pick its merger partner that prompted the fintech to combine with Betsy Cohen’s latest blank-check company. The company expects growth to accelerate to 25% this year ■ SPAC deal values Payoneer at $3.3 billion. Digital payments platform Payoneer has confirmed in a press release that it's going public via a merger with FTAC Olympus Acquisition Corporation, a SPAC that went public in August 2020. FTOC's IPO in … Israeli-founded online payments startup Payoneer announced last week it has signed a deal to become a publicly traded company by merging with FTAC Olympus Acquisition Corp., a SPAC (special purpose acquisition company) backed by banking entrepreneur Betsy Cohen. Posted on February 3, 2021 Payments provider Payoneer has agreed to become a public company through a merger with a “blank check” company, FTAC … Payoneer generates revenue by taking a fee on each transaction. “Technology is transforming commerce globally, bringing down borders and making it possible for entrepreneurs from all over the world to build a digital business. quotes delayed at least 15 minutes, all others at least 20 minutes. This will cover the cost paid to equity holders of Payoneer and will provide the combined company with $563 million in cash. About Payoneer Stock Payoneer empowers global commerce by connecting businesses, professionals, countries and currencies with its innovative cross-border payments platform. Should you buy BFT stock before its merger with Paysafe? Before markets closed of the keyboard shortcuts the deal will have an estimated enterprise value at closing of $! 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