pan-Africa, a blank check company led by the former CEO of Tapestry targeting businesses in Africa, filed on Friday with the SEC to raise up to $125 million in an initial public offering.
The company plans to raise $125 million by offering 12.5 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of one share upon the completion of an initial business combination.
The SPAC is led by CEO and Chairman Jide Zeitlin, the former CEO of Tapestry (NYSE: TPR). He is joined by CFO Thomas Okojie, the CEO and Senior Partner at HillHouse Ventures. The SPAC plans to target businesses in Africa, particularly, the telecommunications, infrastructure, metals and mining, fintech, mobile money, and technology enablement sectors in Nigeria, South Africa, Ethiopia, The Democratic Republic of Congo, and Kenya.
Management's previous SPAC blueacacia (formerly Nasdaq: BLEU), which went public in 2021, failed to complete an initial business combination and liquidated in 2024.
The New York, NY-based company was founded in 2025 and plans to list on the Nasdaq under the symbol BLEUU. pan-Africa filed confidentially on August 29, 2025. Santander is the sole bookrunner on the deal.
