Openmarkets Group Pty

Definitive (DA signed)

Financials · online trading and brokerage platform

What it is: Openmarkets ( openmarkets.com.au ) is an Australian financial services and technology provider headquartered in Sydney, with additional offices in Melbourne and Brisbane, Australia
What it’s doing now: Merging with Lake Superior Acquisition Corp (LKSP) — definitive (da signed), announced Mar 10, 2026; expected close 2026.
What you should know: Data is still being assembled for this company — what is shown below is everything we have verified so far.

The business, per its filings

SEC primary

Openmarkets ( openmarkets.com.au ) is an Australian financial services and technology provider headquartered in Sydney, with additional offices in Melbourne and Brisbane, Australia. Openmarkets provides Brokerage Services (trade execution, clearing and settlement services), options risk management and equity order management applications, as well as Wealth Management SaaS to its various client groups – financial technology providers; Advice professionals including dealer groups, private wealth advisers, and stockbrokers; and high-volume traders .

Source: 425, accession 0001477932-26-001266

What the company says about itself

Web research — not audited

What our web check found

[WEB-INTEL 2026-08-25] 2 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The transaction is expected to be completed in 2026" [https://www.prnewswire.com/news-releases/openmarkets-enters-agreement-to-combine-with-lake-superior-acquisition-corp-302668933.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The terms of the transaction represent an estimated enterprise value of Openmarkets of USD$300 million" [https://www.prnewswire.com/news-releases/openmarkets-enters-agreement-to-combine-with-lake-superior-acquisition-corp-302668933.html] [WEB-INTEL 2026-08-25] 2 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The transaction is expected to be completed in 2026" [https://www.prnewswire.com/news-releases/openmarkets-enters-agreement-to-combine-with-lake-superior-acquisition-corp-302668826.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The terms of the transaction represent an estimated enterprise value of Openmarkets of USD$300 million (not including the earn-out shares issuable pursuant to the BCA)." [https://www.prnewswire.com/news-releases/openmarkets-enters-agreement-to-combine-with-lake-superior-acquisition-corp-302668826.html] [WEB-INTEL 2026-08-25] 2 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The terms of the transaction represent an estimated enterprise value of Openmarkets of USD$300 million (not including the earn-out shares issuable pursuant to the BCA)." [https://www.prnewswire.com/news-releases/openmarkets-enters-agreement-to-combine-with-lake-superior-acquisition-corp-302668933.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The transaction is expected to be completed in 2026." [https://www.prnewswire.com/news-releases/openmarkets-enters-agreement-to-combine-with-lake-superior-acquisition-corp-302668933.html] [WEB-INTEL 2026-08-25] 2 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The transaction is expected to be completed in 2026." [https://www.prnewswire.com/news-releases/openmarkets-enters-agreement-to-combine-with-lake-superior-acquisition-corp-302668933.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The terms of the transaction represent an estimated enterprise value of Openmarkets of USD$300 million (not including the earn-out shares issuable pursuant to the BCA)." [https://www.prnewswire.com/news-releases/openmarkets-enters-agreement-to-combine-with-lake-superior-acquisition-corp-302668933.html] [WEB-INTEL 2026-08-25] 2 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The transaction is expected to be completed in 2026." [https://www.prnewswire.com/news-releases/openmarkets-enters-agreement-to-combine-with-lake-superior-acquisition-corp-302668933.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The terms of the transaction represent an estimated enterprise value of Openmarkets of USD$300 million (not including the earn-out shares issuable pursuant to the BCA)." [https://www.prnewswire.com/news-releases/openmarkets-enters-agreement-to-combine-with-lake-superior-acquisition-corp-302668933.html] [WEB-INTEL 2026-08-25] 1 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "Broad Capital Tacks on Another Month to Work on Open ... The deal was announced in January at an enterprise value of $90 million." [https://news.spacconference.com/2024/03/18/broad-capital-tacks-on-another-month-to-work-on-open-markets-group-deal/] [WEB-INTEL 2026-08-25] 2 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The transaction is expected to be completed in 2026 and is subject to regulatory and shareholder approvals and customary closing conditions." [https://www.prnewswire.com/news-releases/openmarkets-enters-agreement-to-combine-with-lake-superior-acquisition-corp-302668933.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The terms of the transaction represent an estimated enterprise value of Openmarkets of USD$300 million (not including the earn-out shares issuable pursuant to the BCA)." [https://www.prnewswire.com/news-releases/openmarkets-enters-agreement-to-combine-with-lake-superior-acquisition-corp-302668933.html] [WEB-INTEL 2026-08-26] 2 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The transaction is expected to be completed in 2026" [https://www.prnewswire.com/news-releases/openmarkets-enters-agreement-to-combine-with-lake-superior-acquisition-corp-302668933.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "estimated enterprise value of Openmarkets of USD$300 million" [https://www.prnewswire.com/news-releases/openmarkets-enters-agreement-to-combine-with-lake-superior-acquisition-corp-302668933.html] [WEB-INTEL 2026-08-26] 2 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The transaction is expected to be completed in 2026" [https://www.prnewswire.com/news-releases/openmarkets-enters-agreement-to-combine-with-lake-superior-acquisition-corp-302668933.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The terms of the transaction represent an estimated enterprise value of Openmarkets of USD$300 million" [https://www.prnewswire.com/news-releases/openmarkets-enters-agreement-to-combine-with-lake-superior-acquisition-corp-302668933.html] [WEB-INTEL 2026-08-26] 9 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The terms of the transaction represent an estimated enterprise value of Openmarkets of USD$300 million (not including the earn-out shares issuable pursuant to the BCA)." [https://www.prnewswire.com/news-releases/openmarkets-enters-agreement-to-combine-with-lake-superior-acquisition-corp-302668933.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The transaction is expected to be completed in 2026 and is subject to regulatory and shareholder approvals and customary closing conditions." [https://www.prnewswire.com/news-releases/openmarkets-enters-agreement-to-combine-with-lake-superior-acquisition-corp-302668933.html] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The deal was announced in January at an enterprise value of $90 million." [https://news.spacconference.com/2024/03/18/broad-capital-tacks-on-another-month-to-work-on-open-markets-group-deal/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The transaction is expected to be completed in 2026." [https://www.rttnews.com/3613026/openmarkets-agrees-to-300-mln-spac-merger-with-lake-superior.aspx] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The parties said the deal is expected to close in 2026, subject to regulatory approvals, shareholder votes, and customary closing conditions." [https://pulse2.com/openmarkets-to-merge-with-lake-superior-acquisition-in-300-million-spac-deal/] · web source a [WEB-INTEL 2026-09-08] 3 finding(s) · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The terms of the transaction represent an estimated enterprise value for Openmarkets of USD$300 million (not including the earn-out shares ...)" [https://www.adviservoice.com.au/2026/01/openmarkets-enters-agreement-to-combine-with-lake-superior-acquisition-corp/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The parties said the deal is expected to close in 2026, subject to regulatory approvals, shareholder votes, and customary closing conditions." [https://pulse2.com/openmarkets-to-merge-with-lake-superior-acquisition-in-300-million-spac-deal/] · web source asserts a FILING-ONLY figure (deadline / trust / status / floor / price) and it was NOT stored: "The transaction is expected to be completed in 2026." [https://www.rttnews.com/3613026/openmarkets-agrees-to-300-mln-spac-merger-with-lake-superior.aspx]

Source: company web presence · marketing claims are reported as claims, never merged into the filed figures above.

The deal it’s entering

Openmarkets Group Pty is merging with Lake Superior Acquisition Corp (LKSP), a $115M SPAC currently marked Deal announced and trading at $10.22 against $10.27 in trust per share.

Headline equity value

—

Structure per SEC accession(s) 0001477932-26-000513. How to read these numbers: headline vs effective valuation · what a definitive agreement commits

What exactly is being valued, and at what

What it is being valued atSEC-primary — the filed capitalisation table

What the filings actually value

Pro-forma enterprise value$300M

The combined company net of that cash — what the buyers are paying for the BUSINESS. Every multiple below is struck on this figure and on nothing else.

What that price is, per dollar of sales

Enterprise value ÷ EBITDA — not shown

No EBITDA figure for Openmarkets Group Pty Ltd appears in any filing we hold, so no EV/EBITDA multiple is shown. We have not inferred one from a margin assumption — a multiple built on an assumed margin measures the assumption, not the company.

All figures above are stated in EX-99 press release0001477932-26-000348

EX-99 press release, 0001477932-26-000348: proFormaEnterpriseValueM "USD$300 million". A press release is a party's own claim, not a filed table: any stated capitalisation table supersedes it.

Was this deal done at an expensive or a cheap valuation?

SpacBrain’s read on the price

No multiple can be computed

We hold no revenue figure in US dollars for Openmarkets Group Pty Ltd, so there is nothing to divide the price by and no multiple can be struck. It is not recorded as pre-revenue either — this is a gap in our record, not a finding that the company has no sales. The deal values it at $300M regardless.

We have not extracted a revenue figure for this company from its filings yet. That is our gap, not a statement about the business.

What the buyers are paying for the whole company$300M

Pro-forma enterprise value as filed.

Divided by what the company actually sells in a yearno revenue figure on file

Not extracted from the filings yet.

= what this deal pays for every dollar of those salesno multiple

Not computable — no revenue figure has been extracted from the filings yet.

What the stock market pays for its closest listed peersno comparable multiple

No listed comparable carries a revenue multiple we can use.

Common questions

Is Openmarkets Group Pty going public?

Openmarkets Group Pty has a signed merger with the SPAC Lake Superior Acquisition Corp (LKSP), announced Mar 10, 2026. Deal status: Definitive (DA signed).

Was Openmarkets Group Pty bought at an expensive or a cheap valuation?

Does Openmarkets Group Pty have revenue?

The filings we've parsed don't state a usable revenue figure yet; this profile is updated as new documents land.

Educational content, not investment advice.

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