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CompoSecure to go public through a SPAC merger valuing emergent crypto-storage company at $1.2 billion

Tomi Kilgore
·1 min read
CompoSecure to go public through a SPAC merger valuing emergent crypto-storage company at $1.2 billion
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CompoSecure Holdings L.L.C. will become a publicly traded company, after the provider of financial payment cards and emerging provider of cryptocurrency storage services announced an agreement to be acquired by special purpose acquisition company (SPAC) Roman DBDR Tech Acquisition Corp. , in a deal valuing CompoSecure about $1.2 billion. CompoSecure said its customers include J.P. Morgan Chase & Co. and American Express Co. . After the deal closes, which is expected to occur in the third quarter of 2021, the combined company will operate as CompoSecure and be listed on the Nasdaq; the expected ticker symbol was not disclosed. CompoSecure said its cryptocurrency cold storage and security services product, Arculus, is expected to launch in the third quarter of 2021. Shares of Roman DBDR, which went public in November, rose 4.0% in premarket trading. It has slipped 3.9% over the past three months through Friday, while the Renaissance IPO ETF has dropped 6.3% and the S&P 500 has gained 10.2%.