The cryptocurrency company Cube plans to go public through a SPAC deal and will spend $500 million to acquire SOL reserves before the merger is completed

ChainCatcher news, according to Newswire, the special purpose acquisition company Mercer Park Opportunities Corp. (Toronto Stock Exchange code: SPAC.U) announced that it has signed a definitive business combination agreement with the innovative company Cube Group, Inc. in the hybrid digital asset trading space.

The transaction values Cube at $300 million and is expected to create a publicly listed entity upon receiving regulatory approval.

The entity plans to spend $500 million on acquiring Solana tokens (SOL) reserves before the transaction is completed to enhance liquidity, yield generation, and long-term value creation. After the transaction is completed, the merged company will operate under the name Cube Exchange Inc.

The transaction is subject to approval by the Toronto Stock Exchange. Mercer Park also agreed to use reasonable efforts to quickly seek a dual listing on Nasdaq after the transaction is completed. Mercer Park expects the transaction to be completed in the first quarter of 2026.