OpenPayd-Titan Merger Seeks $1B Equity Value and $276M Trust Proceeds
TACH•PubCo filed a Form F-4 to effect the Titan Acquisition merger, positioning OpenPayd to list on Nasdaq under ticker OP with implied pro forma equity value over $1 billion. The deal provides up to $276 million in gross trust proceeds and values OpenPayd at $800 million.
1. Registration Statement Filed
PubCo filed a registration statement on Form F-4 in connection with its proposed business combination with Titan Acquisition Corp, marking a key regulatory step toward the merger.
2. Transaction Structure and Valuation
Under the June 1, 2026 combination agreement, Titan will merge into PubCo, valuing OpenPayd at $800 million and creating a combined implied pro forma equity value exceeding $1 billion.
3. Funding and Proceeds
The transaction secures up to $276 million in gross proceeds from Titan’s trust account, assuming no redemptions by Titan public shareholders and prior to payment of transaction expenses.
4. Closing Timeline and Conditions
The merger is expected to close in the fourth quarter of 2026, subject to Titan shareholder approval, effectiveness of the registration statement, regulatory clearances, Nasdaq listing approval and a minimum $130 million proceeds threshold.
