Tokenized securities infrastructure company tZERO plans to go public via a reverse merger at a $350 million valuation.

According to CoinDesk, tokenized securities infrastructure firm tZERO plans to go public via a merger with blank-check company FG Imperii Acquisition Corp. (FGII, a special purpose acquisition company, SPAC), with a pre-money valuation of approximately $350 million for tZERO. The deal could provide the company with up to $231 million in SPAC trust cash, depending on shareholder redemptions and fees. The combined company intends to list on the NYSE American market under the ticker TZRO, with completion expected in early 2027, pending shareholder and regulatory approvals. Founded in 2014, tZERO has long specialized in the blockchain securities market; its regulated subsidiary offers trading, brokerage, custody, and transfer agency services for digital securities. Intercontinental Exchange (ICE), parent company of the New York Stock Exchange, is one of tZERO’s investors and has selected the firm as a design partner for the NYSE’s blockchain securities trading platform. CEO Alan Konevsky told CoinDesk that global and local institutions aim to offer tokenized products under their own brands and retain control of customer relationships, with tZERO providing end-to-end infrastructure. The proposed transaction is designed to secure additional capital to expand its Infrastructure-as-a-Service (IaaS) model. The company holds over 100 blockchain-related patents for tokenization and securities infrastructure, and is involved in patent disputes with rival Securitize (SECZ). Existing shareholders are expected to retain their stakes in the combined company, with approximately 62% of fully diluted shareholders having signed support agreements. Konevsky is expected to continue as CEO.