Eight Capital analyst Adhir Kadve provided an update to clients on Thursday on Canadian fintech name Mogo Inc (Mogo Inc Stock Quote, Charts, News, Analysts, Financials TSX:MOGO), saying there are a number of positives for the company stemming from a recent three-way merger in the cryptocurrency space.
Crypto-trading platforms WonderFi Technologies, Coinsquare and CoinSmart Financial announced on Monday the closing of a previously announced three-way merger. The deal will see WonderFi issue about 270 million shares to Coinsquare shareholders and about 119 million shares to CoinSmart shareholders, with WonderFi shareholders having as a result about 38 per cent of the combined company, Coinsquare shareholders having 43 per cent and CoinSmart shareholders having 19 per cent.
Vancouver-based Mogo owned 34 per cent of Coinsquare and will now own a 14 per cent stake — the largest — in the publicly traded WonderFi…
