ThinkMarkets and FG confirm IPO via SPAC merger terminated
The cancellation of the ThinkMarkets-FG deal marks the third consecutive failed attempt of a Retail FX and CFDs broker to go public.
The cancellation of the ThinkMarkets-FG deal marks the third consecutive failed attempt of a Retail FX and CFDs broker to go public.
ThinkMarkets posted total losses of USD $20.7 million over the past two years, financing its cash outflow from increased borrowing.
The deal will give ThinkMarkets a pre-merger valuation of USD $160 million.
The Saxo deal the second failed attempt by a Retail FX and CFDs broker to go public via the SPAC route, in just the past six months.