- Business
- Marblegate Acquisition Corp. (NASDAQ: GATE) is a special purpose acquisition company that pursues mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations or similar business combinations, primarily targeting distressed or special situation businesses with recent restructurings. Incorporated in 2020 and headquartered in Rye, New York, the company completed a significant business combination on April 10, 2025, with Marblegate Asset Management LLC and DePalma Acquisition I LLC and DePalma Acquisition II LLC, resulting in Marblegate Acquisition Corp. becoming a wholly-owned subsidiary of the newly formed Marblegate Capital Corporation (OTCQX: MGTE), a vertically integrated full-service fleet operator and specialty finance lender in the New York City taxi medallion market; Marblegate Capital Corporation maintains a loan portfolio collateralized by more than 1,700 medallions, owns over 2,000 medallions, and operates one of the largest NYC medallion fleets, focusing on lending, ownership and fleet management services. The merger, initially announced in February 2023 and approved by stockholders in March 2025 with amendments increasing authorized capital stock from 221 million to 260 million shares, transitioned the SPAC structure to an operating company with perpetual existence; common stock and warrants of Marblegate Capital Corporation began trading on OTCQX under symbols MGTE and MGTEW, respectively, following suspension from Nasdaq trading effective April 4, 2025, due to non-compliance with listing rules.