The Toronto-based company has signed a letter of intent to list on the TSX Venture Exchange by combining its business with a numbered shell company. Spendsafe offers prepaid credit cards and financial literacy tools for kids and teens. (The Logic)

Talking point: The deal comes as Canada’s tech IPO market shows signs of thawing after years without any public listings. Quantum-computing company Xanadu went public this year on the TSX and Nasdaq by merging with a special purpose acquisition company, and Richmond, B.C.-based startup General Fusion plans to list on the Nasdaq later this year, also through a reverse takeover. Such transactions can offer startups an easier and potentially less expensive route to public markets than a traditional IPO.