The tokenized securities firm tZERO has announced a proposed merger with FG Imperii Acquisition Corp. to become a publicly traded company. The transaction values tZERO at $350 million. If the deal proceeds as planned, the company expects to list on the NYSE American exchange under the ticker TZRO by early 2027.
The merger involves FG Imperii Acquisition Corp., which currently trades on Nasdaq under the ticker FGII. Upon completion of the deal, the combined entity intends to transition its listing to the NYSE American. This move follows a strategic shift for tZERO, which transitioned in 2025 to an Infrastructure-as-a-Service model to serve broker-dealers and institutional clients.
The company has recently expanded its regulatory footprint. In August 2026, tZERO partnered with the Intercontinental Exchange to develop infrastructure for tokenized public securities. Subsequently, in October 2026, the Commodity Futures Trading Commission approved a derivatives vertical for the firm, allowing it to operate in a new regulated product category.
Founded in 2014 as part of Overstock’s Medici Ventures, tZERO previously raised approximately $76 million in 2018 through a tokenized preferred equity offering. In 2026, those holdings were converted into Series B preferred shares and common shares. CEO Alan Konevsky noted that the public listing will provide increased transparency through regular financial disclosures.
