MergerJun 1, 2026, 05:15 PM
Titan Acquisition Corp. to Merge with OpenPayd at $1.145B Valuation
AI Summary
Titan Acquisition Corp. (TACH) has entered into a definitive business combination agreement to merge with OpenPayd Global Holdings Limited. Upon completion, OpenPayd will be listed on Nasdaq under the ticker symbol "OP", with the transaction valuing OpenPayd at an equity value of $1.145 billion on a pro-forma basis. The deal is expected to close in the fourth quarter of 2026, and OpenPayd anticipates receiving up to $276 million in gross proceeds from Titan's trust account, assuming no redemptions. OpenPayd reported over $85 million in annualized recurring revenue and processes over $240 billion in annualized transaction volume as of March 2026.
Key Highlights
- Titan Acquisition Corp. (TACH) to merge with OpenPayd Global Holdings Limited.
- Transaction values OpenPayd at an equity value of $1.145 billion on a pro-forma basis.
- OpenPayd to become a publicly listed company on Nasdaq under the ticker symbol "OP".
- OpenPayd generated over $85 million in annualized recurring revenue as of March 2026.
- OpenPayd processes over $240 billion in annualized transaction volume.
- Transaction expected to close in the fourth quarter of 2026.
- OpenPayd expects to receive up to $276 million in gross proceeds from Titan's trust account, assuming no redemptions.
Price Impact
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