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

BlockBeats news, November 2, according to CoinDesk, tokenized securities infrastructure company tZERO plans to go public through a merger with blank-check company FG Imperii Acquisition Corp. (FGII), valuing tZERO at approximately $350 million (pre-money). The transaction could provide the company with up to approximately $231 million in SPAC trust cash, depending on shareholder redemptions and fees. The combined company intends to list on NYSE American under the ticker TZRO, with closing expected in early 2027, subject to shareholder and regulatory approvals.

tZERO has been deeply engaged in the blockchain securities market since 2014, and its regulated subsidiaries provide trading, brokerage, custody, and transfer agent services for digital securities. Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is one of tZERO's investors and has selected the company as one of the design partners for the NYSE's blockchain securities trading platform. CEO Alan Konevsky told CoinDesk that global and local institutions want to offer tokenized products under their own brands and control customer relationships, and tZERO provides end-to-end infrastructure; the proposed transaction aims to obtain more capital to expand the Infrastructure-as-a-Service model.

The company also holds more than 100 blockchain-related patents covering tokenization and securities infrastructure, and is in a patent dispute with competitor Securitize (SECZ). Existing shareholders are expected to continue holding shares in the combined company, and investors representing approximately 62% of the fully diluted equity have signed support agreements. Konevsky is expected to continue serving as CEO.