FTAC Olympus (FTOC) Moves To Recent Lows: Will It Rebound?

Investors who might be looking into fintech plays at this time could consider having a look at the FTAC Olympus Acquisition (NASDAQ: FTOC) stock. Fintech company Payoneer is all set to go public following its merger with the SPAC (special purpose acquisition company).

This set the ball rolling for the FTAC Olympus stock and over the course of the past month, the stock has managed to record gains of as big as 30%. Following the aforementioned merger, the new entity is going to be known as Payoneer Global Inc. More importantly for investors, the new company is going to command a valuation as huge as $3.3 billion.

Related:  PHI (PHIL) Stock is In a Range Over The Past Few Sessions

The deal is being funded by FTAC Olympus through private investments to the tune of $300 million and the cash that it has on its hands. This funding will help in paying the shareholders of Payoneer and also provide the new company with a capital injection of $563 million.

Asan Abdiev

CEO and Editor in Chief. Living in the era of dynamic tech change Asan decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring Finance) writing for technology and as well as finance has been one of the precious aspects of his life