Published on April 15, 2024

Seward & Kissel, a prominent American law firm, has provided guidance to Blockchain Coinvestors Acquisition Corp. I (BCSA), a special purpose acquisition company focused on blockchain, in its agreement to merge with private equity platform Linqto.

The transaction was overseen by the Seward & Kissel team, led by Keith Billotti from the capital markets group, along with support from James Abbott, Holt Goddard, and Madison Pesce. Legal counsel for Linqto is being provided by the US law firm Lowenstein Sandler.

As per the terms of the agreement, Linqto will transition into a wholly-owned subsidiary of BCSA. Existing common equity of Linqto will be eliminated, and shareholders will receive new BCSA shares, valuing the deal at approximately USD 700 million.

The completion of the transaction, anticipated by the year-end, is contingent upon approval from both BCSA and Linqto shareholders, in adherence to the specified closing conditions in the agreement.

BCSA was established with the purpose of facilitating mergers, share exchanges, asset acquisitions, or similar business combinations with various entities or businesses.

Linqto, a private equity platform, serves retail and accredited investors, enabling them to explore, identify, and invest in a variety of private tech companies and unicorn companies, thereby making private investing more accessible and cost-effective for individual investors.

In response to the merger, Linqto CEO Joe Endoso expressed, “This merger marks a significant achievement in Linqto’s progression towards growth and innovation in the realm of private investing. We are enthusiastic about the prospects it offers to enhance our platform further and deliver increased value to our investors. Our primary focus remains on fostering growth and broadening opportunities within the private markets.”