Payoneer Inc. announced Wednesday an agreement to merge with special purpose acquisition company FTAC Olympus Acquisition Corp. FTOCU, +9.30%, which will effectively take the payments and e-commerce-enabling platform company public. The enterprise value of the combined company is expected to be about $3.3 billion. After the deal closes, which is expected to occur during the first half of 2021, the company will be named Payoneer Global Inc., and is expected to have up to $563 million in cash. FTAC Olympus’s stock, which started trading on Aug. 26, 2020, rose 8.7% in premarket trading following the merger announcement. It has run up 40.6% over the past three months, while the Renaissance IPO ETF IPO, +1.33% has rallied 36.6% and the S&P 500 SPX, +0.34% has gained 13.6%.
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