Cathedra Bitcoin Advances Kungsleden Merger

Cathedra Bitcoin Inc (TSE:CBIT) has released an update.

Cathedra Bitcoin Inc. has received conditional approval from the TSX Venture Exchange for its merger with Kungsleden Inc., an infrastructure developer, altering the deal to increase Cathedra’s ownership in the merged entity from 22.5% to 27.5%. This amendment results in a C$19.2 million reduction in the amount Cathedra will pay Kungsleden’s shareholders. The merger approval process is moving forward with a shareholder meeting scheduled for July 22, 2024, and Cathedra also plans to list its shares on a major U.S. stock exchange later that year.

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