BitCore completes reverse merger with AirTouch, goes public on Tel Aviv Stock Exchange
BitCore Capital has completed its merger into Tel Aviv-listed AirTouch, turning the former solar panel cleaning robotics company into a publicly traded crypto company.
Under the transaction, AirTouch acquired 100% of BitCore Capital through a share exchange, with BitCore shareholders receiving up to 74.9% of the company on a fully diluted basis. The company also completed a 1-for-15 reverse share split and increased its registered share capital as part of the transaction.
BitCore is focused on bitcoin reserve management, a digital shekel initiative, bitcoin-backed lending, and blockchain-based payment solutions. The transaction values BitCore at approximately NIS 85 million before money, with the merged company valued at approximately NIS 91 million. Following the deal, the company is expected to begin operations with approximately NIS 20 million in cash.
Pearl Cohen represented BitCore in the transaction, with a team led by Ilan Gerzi, Masha Berkovits, and Arik Chikotay.
