TradeZero Is Going Public, Merges With Another Firm

TradeZero, a US and Bahamas-based broker-dealer that’s been around for over 20 years announced on Tuesday they’re merging with Dune Acquisition Corporation. With this union, there will be an opportunity to gain greater exposure in the market as Trade Zero becomes a publicly listed company!

The company’s shares are expected to be listed on the New York Stock Exchange (NYSE).

The merger deal is set for completion soon, and when that happens, there will only exist one publicly traded entity under the name TradeZero Global Inc., with its ticker symbol TRAD.

In his official statement, Founder and CEO at Dune, Carter Glatt, had this to say, “We are excited to partner with Daniel, Kosta Corriveau, and the rest of TradeZero’s management team to bring this next-generation trading platform to the public markets.”

TradeZero and Dune have come together to create a merger that will provide benefits for both companies. Under the terms of this joint venture, Trade Zero merges with their competitor at an enterprise value of $556 million while equity aligns itself on trade zero’s balance sheet as well bringing it up from 716 million total shares outstanding valued at close to 800 thousand dollars per share before taking into account any transactions or change in ownership during these live negotiations until they are finalized by all parties involved.

TradeZero is set to become a merged entity with 70% of the stakes, as its existing holders will roll all equity holdings into this joint venture.

Joining the Retail Trading Bandwagon

Away from the merger, TradeZero is a company that provides commission-free stock trading platforms. It gained popularity this year with the meme stock frenzy, resulting in an increase in new customers to Trade Zero who were looking for fun and easy ways of investing their money into stocks without paying any fees or commissions associated with buying, etc., which can often be expensive if you’re not careful about where your funds come from!

“Fundamentally, we are a trading platform designed for the rapidly evolving demands of the individual active trader. As traders’ sophistication has increased across the retail community, we have built a new-age system focused on providing the flexible capabilities needed to equalize the playing field when transacting in U.S. equities and equity options. We believe that we are in the early innings of addressing an underserved end-market ripe for continued investment,” said the Co-Founder and CEO of TradeZero, Daniel Pipitone. 

In other related news, Robinhood, a US-based stock brokerage company that’s been around for years and recently went public on the NYSE was heavily fined earlier this year when it came to light how their business model may have contravened some foreign exchange laws. They’re still facing criticism even though they’ve made changes since then – so if you want an investing platform you may want to think it through before putting your money there!