By Sabela Ojea
Canna-Global Acquisition said Thursday it is merging with New Quantum Holding in a deal that is expected to make the provider of core and digital wealth management platform a publicly traded company.
The special-purpose acquisition company said it signed a definitive bid implementation and business acquisition agreement with Sydney-based New Quantum that will also result in the company becoming one of its wholly-owned subsidiaries.
The deal values New Quantum at $800 million, Canna-Global Acquisition said, adding that it plans to list New Quantum on the Nasdaq Global Market under the ticker symbol NQH.
The combined entities have $20 billion Australian dollars ($13.59 billion) of committed funds under management, and a qualified additional pipeline of A$80 billion.
The transaction is expected to close in the second half of 2023.
Write to Sabela Ojea at [email protected]; @sabelaojeaguix
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