“We have been working closely with the [U.S. Securities and Exchange Commission] since before we publicly announced the transaction and continue to do so,” eToro said. “We are in the final stages of comments from the SEC. Once we have final approval, the transaction goes to a vote with the FTCV shareholders which takes 20 days and then it takes a few more days to finalize the transaction. Given this timeline and where we are today, we wanted to be transparent with the market that a Q3 closing was no longer possible.”
