MergerJun 29, 2026, 05:53 PM
OpenPayd to go public via SPAC merger with Titan; $1B+ valuation
AI Summary
OpenPayd Global Holdings Limited (PubCo), OpenPayd, and Titan Acquisition Corp. announced the filing of a registration statement on Form F-4 with the SEC for their proposed business combination. The transaction is expected to result in OpenPayd becoming a Nasdaq-listed public company under the ticker "OP", with an implied pro forma equity value exceeding $1 billion. The deal is anticipated to provide OpenPayd with up to $276 million in gross proceeds from Titan's trust account, assuming no redemptions, and is expected to close in Q4 2026.
Key Highlights
- OpenPayd to become a Nasdaq-listed public company under ticker "OP".
- Combined company implied pro forma equity value exceeds $1 billion.
- Up to approximately $276 million in gross proceeds from Titan's trust account.
- Aggregate consideration to OpenPayd shareholders based on $800 million value.
- OpenPayd reported over $85 million in annualized recurring revenue as of March 2026.
- OpenPayd reported over $240 billion in annualized transaction volume.
- Transaction expected to close in the fourth quarter of 2026.
- Registration statement on Form F-4 filed with the SEC.
Price Impact
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