Crypto company Cube plans to go public through a SPAC deal, and will spend $500 million to purchase SOL reserves before the merger is completed.

Foresight News reported that the special purpose acquisition company Mercer Park Opportunities Corp. (Toronto Stock Exchange code: SPAC.U) announced it has signed a definitive business combination agreement with Cube Group, Inc., an innovative company in the hybrid digital asset trading sector. This transaction values Cube at $300 million, and upon receiving regulatory approval, is expected to create a publicly listed entity.

The entity plans to acquire a reserve of Solana tokens (SOL) worth $500 million prior to the completion of the transaction, in order to enhance liquidity, yield generation, and long-term value creation. After the transaction is completed, the merged company will operate under the name Cube Exchange Inc. The transaction is subject to approval by the Toronto Stock Exchange. Mercer Park has also agreed to use reasonable efforts to promptly seek a dual listing on Nasdaq following the completion of the transaction. Mercer Park expects the transaction to be completed in the first quarter of 2026.