tZERO to go public via $350M SPAC merger as TZRO

Digital securities firm tZERO plans to go public through a merger with blank-check company FG Imperii Acquisition Corp. (FGII), valuing the company at $350 million before new capital, per CoinDesk. The deal could provide up to $231 million in SPAC trust cash, subject to shareholder redemptions, with the combined company expected to trade on NYSE American under TZRO early next year; CEO Alan Konevsky is expected to remain in charge.

• tZERO has built blockchain-based securities infrastructure since 2014, with regulated subsidiaries covering trading, brokerage, custody and transfer agency services.
• Intercontinental Exchange (ICE), parent of the NYSE, is an investor and named tZERO a design partner for its blockchain-based securities trading platform.
• tZERO holds 100+ blockchain patents and is in a legal patent dispute with rival tokenization firm Securitize.
• Existing shareholders keep their equity, and investors representing about 62% of fully diluted capital have signed support agreements; closing is expected in early 2027 pending approvals.