Valuation$3.5B
TypeSPAC merger
AcquirerPhoenix Acquisition Corp.
AnnouncedDec 6, 2025
TickerNasdaq: PBTC
Solid
A solid exit with healthy economics.
Deal size vs peers
Above the typical SPAC merger.
Liquidity type
SPAC listing — a mixed-track-record path to liquidity.
Heuristic read of deal size vs peers, return multiple, acquirer premium, and liquidity type. Not investment advice.
