Mercer Park Opportunities Corp., a Cayman Islands-based special purpose acquisition company (SPAC), has entered into a definitive business combination agreement with Cube Group, Inc., valuing Cube at $300 million. The merged entity will acquire $500 million worth of Solana (SOL) tokens as a core pre-closing condition, using stock as consideration to establish a substantial crypto treasury for Cube Exchange Inc.
The primary objective of this SOL treasury is to generate yield via staking, with annual returns expected to range between 7-9%, leveraging Solana's average staking yield of approximately 6.86%. This strategy aims to provide sustainable revenues and boost on-chain liquidity and trading volume on Cube's platform. Post-merger, the combined entity will expand its services to include spot trading, custody solutions, perpetuals, derivatives, hybrid banking, asset management, and corporate treasury solutions.
The transaction is structured as a qualifying transaction under Toronto Stock Exchange (TSX) rules and is expected to close in Q1 2026, pending TSX approval, prospectus clearance with Canadian securities regulators, and completion of Cube's audit. After closing, the company will pursue a dual listing on Nasdaq and TSX. Bartosz Lipiński, co-founder and CEO of Cube Group, stated, "Cube is building the infrastructure for modern digital finance, and this business combination with Mercer Park accelerates our vision. By going public, we gain the resources to scale our ultra-secure, high-speed exchange."
This move aligns with broader trends of companies integrating crypto into balance sheets, driven by regulatory developments such as the Financial Accounting Standards Board's (FASB) 2025 adoption of fair-value accounting for digital assets, which enhances transparency and reduces tax burdens. Solana's high-performance capabilities and minimal fees were cited as key reasons for choosing it over alternatives like Bitcoin for active yield generation.
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