Linqto, Inc. entered into a definitive agreement to acquire Blockchain Coinvestors Acquisition Corp. I for an enterprise value of approximately $700 million in a reverse merger transaction.

Linqto, Inc. entered into a definitive agreement to acquire Blockchain Coinvestors Acquisition Corp. I (NasdaqGM:BCSA) for an enterprise value of approximately $700 million in a reverse merger transaction on April 9, 2024. As per the terms, Linqto's current outstanding common equity will be canceled, and its shareholders will receive in exchange newly issued shares of BCSA.

The combined company will operate as Linqto. The special committee and board of directors BCSA and the board of directors of Linqto have both unanimously approved the Transaction. 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.

The business combination is expected to close in the second half of 2024. Lowenstein Sandler LLP acted as legal advisor to Linqto. Seward & Kissel LLP acted as legal advisor to Blockchain Coinvestors Acquisition Corp.