tZERO to go public through a $350M SPAC deal with FG Imperii Acquisition Corp

Tokenisation firm tZERO plans to go public by merging with FG Imperii Acquisition Corp, a blank-check company. The deal values tZERO at $350 million before new capital and brings up to $231 million of SPAC trust cash, subject to redemptions and expenses. The combined company is expected to list on NYSE American under the ticker TZRO, with closing expected in early 2027, pending shareholder and regulatory approvals.

tZERO has worked in blockchain-based securities markets since 2014. Its regulated subsidiaries provide trading, brokerage, custody and transfer agent services for digital securities, and it holds more than 100 blockchain-related patents. Alan Konevsky is expected to remain CEO.

Investors representing about 62% of fully diluted capital have signed support agreements. Intercontinental Exchange, the parent of the NYSE, is an investor and chose tZERO as a design partner for the NYSE's tokenised securities trading platform. tZERO is in a patent dispute with rival Securitize.