A year after its initial public offering, a Jacksonville-based blank check company formed to seek acquisitions has found its target.
Blockchain Moon Acquisition Corp. announced an agreement Oct. 15 to acquire DLTx ASA, an Oslo, Norway-based company developing blockchain technology.
As its name implies, Blockchain Moon was formed to find businesses in that industry.
“DLTx is a tech company run by decentralists who believe in the new economy that is powered by cryptographic digital assets. The DLTx team has been at the forefront of developing and launching of several of the most important protocols in the blockchain space,” Blockchain Moon said in a news release.
After the merger, the company will be named DLTx Inc. and be headquartered in the U.S., but the news release didn’t say where.
Blockchain Moon lists its headquarters office at 4651 Salisbury Road on Jacksonville’s Southside but it has no full-time employees.
The company went public in October 2021 by selling 10 million units at $10 each, with the units consisting of one share of stock and warrants to acquire additional stock.
DLTx is publicly traded on the Oslo Stock Exchange. Its shareholders will receive Blockchain Moon shares in the merger.
DLTx reported revenue of $525,000 in the second quarter.
Blockchain Moon shares trade on the Nasdaq Global Market. DLTx officials said in the news release the Nasdaq listing is part of the appeal of the merger.
“DLTx’s mission is to be a premier blockchain and Web3 infrastructure company. The Nasdaq listing will provide access to the global capital markets to accelerate the development of our business and position us to take advantage of the growth of decentralized communications and finance,” said Chairman James Haft.
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- Source: https://www.jaxdailyrecord.com/news/2022/oct/27/stephanie-ferris-at-fis-in-exclusive-company/