Linqto to publicly list through deal with Blockchain Coinvestors Acquisition

Blockchain Coinvestors Acquisition Corp. I, a special purpose acquisition company, and Linqto, Inc., a Delaware corporation, announced they have entered into a definitive business combination agreement, pursuant to which Linqto will become a wholly-owned subsidiary of BCSA. From and after the closing of the transaction, the combined company will operate as Linqto. Pursuant to the transaction, a special purpose vehicle and wholly owned subsidiary of BCSA, will merge with and into Linqto, with Linqto surviving the merger as a wholly owned subsidiary of BCSA. Linqto’s current outstanding common equity will be canceled, and its shareholders will receive in exchange newly issued shares of BCSA at an implied enterprise value of approximately $700M, subject to certain adjustments. Prior to the closing of the Transaction, BCSA will change its jurisdiction of incorporation from the Cayman Islands to Delaware. In connection with the domestication, each outstanding BCSA ordinary share will automatically convert into a share of common stock of the Delaware entity on a one-for-one basis. The special committee and board of directors BCSA and the board of directors of Linqto have both unanimously approved the transaction, which BCSA and Linqto expect to close in the second half of 2024. The Transaction will require the approval of the shareholders of both Linqto and BCSA and is subject to other customary closing conditions identified in the business combination agreement.