ReserveOne, a digital asset management company, has confidentially filed a Form S-4 registration statement with the U.S. Securities and Exchange Commission (SEC) as it moves forward with its planned merger with M3-Brigade Acquisition V Corp., a special purpose acquisition company (SPAC).
The deal, first announced in July, is expected to value the combined entity at around $1 billion and pave the way for a Nasdaq listing under the ticker “RONE.”
The transaction will enable ReserveOne to expand its crypto-focused treasury strategy, which is anchored in Bitcoin but also includes Ethereum, Solana, and other digital assets.
“We’re one of the rare digital asset companies that hold diversified crypto positions and is run by a team of seasoned executives,” ReserveOne noted on X.
The company plans to generate returns through staking and lending while positioning itself as a bridge for traditional investors who want public market exposure to crypto without directly holding tokens.
The leadership team includes Jaime Leverton, former CEO of Hut 8, as chief executive, and Sebastian Bea, formerly of BlackRock and Coinbase, leading investment strategy. ReserveOne is backed by firms such as Kraken and Blockchain.com, which have committed funding through equity and convertible debt.
The merger remains subject to shareholder approval and regulatory review, with closing targeted for late 2025. If successful, ReserveOne’s Nasdaq debut would rank among the largest crypto-focused SPAC listings this year.
The news of ReserveOne’s public listing has generated attention across the crypto market, a move likely strengthened by increasing regulatory clarity for digital assets across multiple jurisdictions.
Blockchain companies have also been pushing toward the public markets. Figure Technologies secured an IPO valued at $7.6 billion, while Gemini raised an additional $425 million as part of its efforts to pursue a Nasdaq listing.
Earlier, CoinShares announced a SPAC deal with Vine Hill Capital Investment Corp. (NASDAQ: VCIC), where it aimed to raise $1.2 billion in pre-money equity value.
Brokerage firms such as eToro once considered taking the SPAC route but later discontinued the process. Instead, the company has turned to mergers and acquisitions as a strategy to expand its services globally.
