Afterpay/Block Merger Update
It’s official: Afterpay is being acquired by Block after funding from the Bank of Spain was approved. Find out what this means for your Afterpay shares here.
What is Block (SQ2)?
Following the acquisition of Afterpay, Block is listing on Australian markets.
Block, formerly known as Square, is a San Francisco-based company founded in 2009 providing a digital payments solution to merchants across 130 countries across the globe. Founded by Twitter Co-Founder, Jack Dorsey, Block has grown to a Market Cap of USD$68b in just over a decade of operation.
Buying on Stake
Block will begin trading on the Australian Securities Exchange (ASX) following approval from the Bank of Spain to acquire Afterpay. Afterpay announced that $APT shares will be suspended from the ASX in place of Block shares, which will be listed on the ASX on January 20.
What will happen to my Afterpay shares?
Afterpay shares will be suspended from trading on the ASX on January 19. All holders of Afterpay shares will receive Block shares in the trading session of February 1.
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