02:29 PM EDT, 04/09/2024 (MT Newswires) -- Blockchain Coinvestors Acquisition Corp. I ( BCSA ) and Linqto said Tuesday they have struck a merger deal that will result in Linqto becoming a subsidiary of the blank check company.

After the deal, the combined company will operate as Linqto, the firms said. Linqto is an investment platform company.

Linqto shareholders will exchange their holdings in the company for new BCSA shares at an implied enterprise value of about $700 million, they said.

The reverse merger is backed by the boards of both companies and is expected to close in the second half of 2024.

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