American Exceptionalism Acquisition A, a blank check company led by Chamath Palihapitiya targeting energy, AI, DeFi, and defense, raised $300 million by offering 30 million shares at $10. The company is offering 5 million more shares than anticipated. Unlike most SPACs, the company is not offering units with warrants or rights attached.
American Exceptionalism Acquisition A is led by Chairman Chamath Palihapitiya, the founder and Managing Partner of Social Capital, and CEO Steven Trieu, who serves as Group CFO of Social Capital. The SPAC plans to companies that operate in sectors that it believes will be instrumental in maintaining US global leadership for the next century, including energy production, artificial intelligence (AI), decentralized finance (DeFi), and defense.
Palihapitiya previously led several 2020- and 2021-era SPACs, some of which completed combinations and some that were liquidated. The most recent to complete combinations include Social Capital Suvretta Holdings I, which merged with cognitive medicine company Akili Interactive (Nasdaq: AKLI; acquired in 2024 for $0.43 per share) in 2022, and Social Capital Hedosophia Holdings V, which merged with SoFi Technologies (NYSE: SOFI; +181% from $10 offer price) in 2021. Palihapitiya's earlier SPAC merged with Virgin Galactic (NYSE: SPCE; -98% from offer price).
American Exceptionalism Acquisition A plans to list on the NYSE under the symbol AEXA. Santander acted as sole bookrunner on the deal.
