Metal credit card producer, CompoSecure (NASDAQ:CMPO) begins trading today as the latest special purpose acquisition company (SPAC) merger catching investor attention. CompoSecure leads the metal credit card market, earning 40% margins and more than $260 million in revenue in 2020. CMPO stock is looking to make waves with many investors interested in its recent foray into cryptocurrency storage.
So, what has investors talking today?
CompoSecure concluded the merger with blank-check acquisition company Roman DBDR Tech Acquisition yesterday, Dec. 27. Jon Wilk, chief executive of CompoSecure commented on the transaction:
“We are pleased to complete our business combination with Roman DBDR and begin our next chapter as a public company. As I stated at the beginning of this process, we have a bold vision for CompoSecure, as we deliver superior solutions to the payments, cryptocurrency, and broader digital asset marketplace. We look forward to executing our strategic objectives and believe CompoSecure is poised to accelerate its growth and capitalize on the significant opportunities to generate substantial value for all stakeholders.”
Founded in 2000, CompoSecure is a titan of premium payment cards. Considering its selection of materials, this makes sense. Indeed, the company offers everything from Terra Ceramics to Full Metal construction, and cards can even be enhanced with personal engravings or 24 karat gold.
The card connoisseur clearly doesn’t shy away from the spotlight. Therefore, let’s see if that will hold up for today’s public offering.
What to Know About CMPO Stock as CompoSecure Hits the Market
- On Dec. 23, Roman DBDR stock holders voted to approve the transaction merging with CompoSecure.
- CompoSecure begins trading on the Nasdaq, under the CMPO ticker, starting today, Dec. 28.
- Additionally, CompoSecure is partnered with a number of top firms as the producer of premium cards. This includes the American Express Platinum and JP Morgan Chase Sapphire cards.
- Impressively, the SPAC merger with Roman DBDR values the company at $1.2 billion, roughly 4x its 2021 estimated revenue.
- The New Jersey-based company’s latest venture, the Arculus Key, is the next generation of crypto storage, according to the company. The physical solution will add both security and convenience for crypto owners, while sticking to a familiar payment card.
- Finally, CMPO opened at $9.50 per share this morning. At the time of writing, it is sitting at $9.89.
On the date of publication, Shrey Dua did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
