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Stock impact report

Bitfarms Keel Reverse Merger Reshapes U.S. Listing And Valuation Gap [Yahoo! Finance Canada]

Bitfarms Ltd. (BITF) 
Bitfarms (TSX:BITF) has agreed to be acquired by Keel Infrastructure Corp. through a reverse merger. The deal includes redomiciling Bitfarms from Canada to the United States, subject to shareholder and regulatory approvals. Existing Bitfarms shareholders are expected to receive shares in Keel Infrastructure, which is planned to list on both Nasdaq and TSX. Bitfarms, trading at CA$2.93, has had mixed share performance, with a 46.5% return over the past year alongside a 63.3% decline over five years. Short-term moves have also been choppy, including a 28.4% decline over the past 30 days and a 17.9% decline year to date. This frames how the market has been reacting around corporate and sector headlines. For current shareholders, the proposed reverse merger and U.S. redomicile would shift their exposure into a new U.S. incorporated vehicle while maintaining access through both Nasdaq and TSX. Ahead of the vote and further details, the key issues to watch are the final deal terms, Show less Read more
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