TradeZero, a US and Bahamas-based broker-dealer, announced today that it had hired Joshua Choi as its new Chief Financial Officer. According to the press release, the company expects to expand its C-suite ahead of its public listing as ‘TradeZero Global Inc.’ following a definitive agreement signed with Dune Acquisition Corporation.
“We welcome Josh to the team. His expertise in financial services, capital markets, and governance fit perfectly with our plans for growth,” Dan Pipitone, CEO and co-founder of TradeZero, commented on the announcement. Prior to his new role at TradeZero, Choi has been serving as Director at Fortress Investment Group since 2015. Moreover, he worked in the private equity team of Morgan Stanley Infrastructure Partners.
“The TradeZero family culture and pursuit of excellence for its customers are core to this Company, and I look forward to serving the organization to continue its growth aspirations,” Choi said in a statement. He also holds an MBA from Harvard Business School and a BS from the University of Pennsylvania’s Wharton School.
Public Listing at the NYSE
On October 12, 2021, TradeZero reached a deal with Dune Acquisition Corporation, which would take TradeZero to become a publicly-traded company. At the closure of the merger deal, the combined entity will be called TradeZero Global Inc., and its shares, under the ticker symbol TRAD, are expected to be listed on the New York Stock Exchange (NYSE).
Under the agreed terms, Dune will merge with TradeZero at a proforma combined enterprise value of approximately $556 million and an equity value of $716 million. In addition, TradeZero’s existing holders will roll all their equity holdings into the merged entity, becoming its majority shareholder with 70% of the stakes.
Founded in 2015, TradeZero established itself as a commission-free stock trading platform. This year, it gained popularity with the meme stock frenzy, resulting in a massive surge in its new customers.
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