Lux Vending, LLC, operating as Bitcoin Depot, and GSR II Meteora Acquisition Corp. (GSRM), announced the closing of their business combination on June 30, 2023. Initially disclosed on August 24, 2022, this US$885 million (C$1.18 billion) transaction received stockholder approval on June 28, 2023.

Following the merger, the combined entity was renamed Bitcoin Depot Inc., with its common stock and public warrants starting to trade on Nasdaq under the ticker symbols "BTM" and "BTMWW" on July 3, 2023. This move aims to leverage Bitcoin Depot's market-leading position in North America, providing additional capital for expansion and enhanced access to Bitcoin services.

Brandon Mintz, CEO and Founder of Bitcoin Depot, emphasized the milestone's significance, underscoring the company's potential for growth and secure Bitcoin access. Gus Garcia and Lewis Silberman, Co-CEOs and Directors of GSRM, highlighted Bitcoin Depot's market share and profitability, despite Bitcoin's price volatility.

Advisors for the transaction included B.Riley Securities as capital markets advisor to GSRM. Latham & Watkins LLP as legal advisor to GSRM, and Goodmans LLP as its Canadian counsel. Kirkland & Ellis LLP as legal advisor to Bitcoin Depot?.