Blank-check company Global Blockchain Acquisition Corp. has reportedly filed for a $150M initial public offering (IPO) on Wednesday (April 20, 2022).
The firm’s management noted that they plan to focus its search for an initial business combination on blockchain or DLT-related technology, economy, industries and solutions providers.
The firm also mentioned that its sponsor, Global Blockchain Sponsor LLC, is affiliated with members of its board or directors and its professional management team.
Among the management team members are Chairperson David Metcalf and Max Hooper, president and CEO, who are serving as general partners and managing directors at Global Blockchain Ventures.
Global Blockchain Acquisition stated that it plans to apply to list on the Nasdaq Global Market.
I-Bankers Securities, Inc. is listed as the offering’s book-running manager and Dawson James Securities, Inc. is the co-manager.
Global Blockchain Acquisition, is a SPAC [special purpose acquisition company] led by execs at Global Blockchain Ventures, filed with the US Securities and Exchange Commission (SEC) in order to secure as much as $150 million via an IPO.
The Orlando, Florida-headquartered firm intends to raise funds by providing 15 million units at $10.
Each unit reportedly include one share of common stock, one right to receive one-tenth of a share upon the completion of an initial business combination, and one warrant, “exercisable at $11.50.”
At the proposed deal size, Global Blockchain Acquisition would have a market value of $191 million.
The firm is led by Chief Executive Officer and Director Max Hooper and Chairman David Metcalf, who serve as General Partners and Managing Directors of Global Blockchain Ventures.
Hooper also serves as the Chief Exec of Merging Traffic and ASC World Wide, meanwhile, Metcalf is presently the Chair of ASC World Wide, InteCrowd, and Merging Traffic Fund.
Global Blockchain Acquisitions intends to pursue targets residing in North America, Europe, and/or Asia that are primarily focused on blockchain infrastructure, blockchain apps, and related DLT tech.
The firm was established this year and intends to list on the Nasdaq under the GBBKU ticker symbol.
Global Blockchain Acquisition filed confidentially on February 24, 2022.
I-Bankers Securities is the sole bookrunner on the deal.
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