Tokenization firm tZERO plans to go public through a merger with the blank-check company FG Imperii Acquisition Corp. (FGII), according to a statement shared with CoinDesk on November 2. The combined company would trade on NYSE American under the ticker TZRO. The Dutch-language headline that prompted this report did not name the company, so the identification rests on the CoinDesk report.
The deal values tZERO at $350 million before new capital and could bring up to $231 million in SPAC trust cash, depending on shareholder redemptions and expenses. Closing is expected in early 2027, subject to shareholder and regulatory approvals. Investors representing about 62% of tZERO’s fully diluted capital have signed support agreements, and CEO Alan Konevsky is expected to stay on.
tZERO has worked in blockchain-based securities markets since 2014, and its regulated subsidiaries offer trading, brokerage, custody and transfer agent services for digital securities. Intercontinental Exchange, the NYSE’s parent, is an investor, and selected tZERO as a design partner for the NYSE’s blockchain-based trading platform. Konevsky said the listing would give “greater access to capital to scale that Infrastructure-as-a-Service model.” The company is also in a patent dispute with rival Securitize.
CoinDesk cited a Citi estimate that the tokenized securities market could reach $5.5 trillion by 2030. That is a forecast, and the SPAC route carries the usual redemption risk before the deal closes.
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