BTCS and Spondoolies finalizes merger agreement

Announcements | October 8, 2015 By:

BTCS Inc. and Spondoolies-Tech Ltd. announced they have entered into a definitive merger agreement.

“This merger marks a major milestone for us and sets the stage for rapid revenue acceleration in the years ahead. Together we will leverage the respective expertise of both of our companies to create a new global leader in the blockchain sector,” said Charles Allen, chief executive officer of BTCS.

“The blockchain is set to radically change the future of transaction-based industries. BTCS has positioned itself at the core of this disruptive transformation, and we are excited to combine forces to capitalize on the immense opportunities that lie ahead,” said Guy Corem, chief executive officer of Spondoolies.

Under its terms BTCS shareholders will own a 55.4% to 54.4% stake in the combined company and Spondoolies shareholders will own a 44.6% to 45.6% of the combined company, based on the number of common and preferred securities outstanding immediately following the merger.

BTCS Inc. is a blockchain security company. Spondoolies is a transaction verification server manufacturer.