Wen Acquisition, a blank check company focused on the fintech and blockchain industries, raised $261 million by offering 26.1 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
Wen Acquisition is led by CEO and Chairman Julian Sevillano, a former Partner and Global lead of McKinsey & Company's digital assets advisory. The SPAC plans to target infrastructure companies in the financial technology sector that are focused on enablement of digital assets, such as stablecoins, through the incorporation and integration of blockchain networks into the traditional financial systems.
Wen Acquisition plans to list on the Nasdaq under the symbol WENNU. Cantor Fitzgerald acted as sole bookrunner on the deal.
