LOS ANGELES, July 19, 2023 - B. Riley Securities, Inc. ("B. Riley"), a leading middle market investment bank and subsidiary of B. Riley Financial, Inc. (Nasdaq: RILY), is pleased to have served as capital markets advisor to GSR II Meteora Acquisition Corp., a special purpose acquisition company, in the successful closing of its business combination with Bitcoin Depot. The combined company, named Bitcoin Depot Inc. ("the Company"), began trading on July 3, 2023 on the Nasdaq under the ticker symbols "BTM" and "BTMWW". To read more about this transaction click here.
Bitcoin Depot is a leading fintech company that owns and manages the largest network of Bitcoin ATMs ("BTMs") across North America where customers can convert cash to Bitcoin. As of March 31, 2023, Bitcoin Depot's network consisted of 6,440 kiosks in retail locations throughout North America. The company also offers its BDCheckout product at 2,754 retail locations. Bitcoin Depot reported full year 2022 adjusted EBITDA of $41.2M.
B. Riley is a leading middle market investment bank with a longstanding track record of advising and publishing equity research on financial services, digital asset and fintech focused companies.
B. Riley's deal team was led by Jimmy Baker, Mike Cavanagh and Randy Binner and included Joe Nardini, Ryan Aceto, and David Park.
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B. Riley has served as a preeminent fixture in middle market brokerage and investment banking for over 25 years. We provide a full suite of investment banking and capital markets services to companies, financial sponsors, and institutional investors across all industry verticals. Investment banking services include initial, secondary and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, corporate restructuring and recapitalization. Widely recognized for our thematic proprietary equity research, clients benefit from B. Riley's extensive network, industry expertise, and proven execution capabilities of our end-to-end financial services platform. B. Riley Securities is a subsidiary of B. Riley Financial (Nasdaq: RILY). For more information, visit www.brileysecurities.com.