GSR II Meteora Acquisition Corp. Announces Filing Of Preliminary Proxy Statement With SEC In Connection With Its Proposed Business Combination With Bitcoin Depot

NEW YORK, Oct. 05, 2022 (GLOBE NEWSWIRE) -- GSR II Meteora Acquisition Corp. (NASDAQ:GSRM) ("GSRM"), a special purpose acquisition company, and Lux Vending, LLC dba Bitcoin Depot® ("Bitcoin Depot" or the "Company"), a U.S.-based Bitcoin ATM operator and leading fintech company, announced today that GSRM has filed a preliminary proxy statement (the "preliminary proxy statement") with the U.S. Securities and Exchange Commission ("SEC") in connection with the special meeting of GSRM stockholders to approve GSRM's previously announced business combination with Bitcoin Depot. The preliminary proxy statement also includes Bitcoin Depot's estimates for full-year 2022 financials.
 

Once in definitive form, copies of the definitive proxy statement will be mailed to shareholders as of the record date to be established and which shareholders are encouraged to read.

Upon closing of the business combination, the combined company will be named Bitcoin Depot Inc. and trade on the Nasdaq under the new ticker symbol "BTM." Assuming no redemptions, the business combination is anticipated to provide Bitcoin Depot with up to $170 million of cash proceeds to its balance sheet, net of debt repayment, proceeds to the Bitcoin Depot founder and payments to redeeming public stockholders and expenses.

Completion of the business combination, which is expected to close in the first quarter of 2023, is subject to regulatory and stockholder approvals and other customary closing conditions.

Advisors

Oppenheimer & Co. Inc. is serving as financial advisor, B. Riley Securities is serving as placement agent and capital markets advisor and Latham & Watkins LLP is serving as legal advisor to GSRM. Kirkland & Ellis LLP is serving as legal advisor to Bitcoin Depot.

About Bitcoin Depot

Bitcoin Depot was founded in 2016 with the mission to connect those who prefer to use cash to the broader, digital financial system. Bitcoin Depot provides its users with simple, efficient and intuitive means of converting cash into cryptocurrency, which users can deploy in the payments, spending and investing space. Users can convert cash to cryptocurrencies at Bitcoin Depot's kiosks and at thousands of name-brand retail locations through BDCheckout. The company has the largest market share in North America with approximately 7,000 kiosk locations. Learn more at www.bitcoindepot.com.