tZERO to go public via SPAC merger with FG Imperii at $350 million pre-money valuation

The deal gives tZERO up to roughly $231 million in trust cash, subject to redemptions, plus a forward purchase term sheet with FG Merchant Partners LP covering up to 2.5 million shares; an FG Imperii affiliate also added capital to tZERO's prior funding round. Existing shareholders will roll 100% of their equity, with support agreements covering about 62% of capital on a fully diluted basis. The combined company is expected to list on NYSE American as "TZRO" in early 2027, pending shareholder, regulatory and S-4 approvals. CEO Alan Konevsky and current management will continue leading the firm.

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