Innovative Digital Investors Acquisition, a blank check company targeting the financial services industry in North America, lowered the proposed deal size for its upcoming IPO on Monday.
The Itasca, IL-based company now plans to raise $125 million by offering 12.5 million units at $10. Each unit still consists of three-quarters of one warrant, exercisable at $11.50. The company had previously filed to offer 20 million units at the same price. It had originally filed in May 2025 to offer 15 million units. At the revised deal size, Innovative Digital Investors Acquisition will raise -38% less in proceeds than previously anticipated.
The company is led by CEO and Chairman Jonathan Bates, the former Chairman and CEO of BitMine Immersion Technologies (NYSE: BMNR). He is joined by CFO Hassan Baqar, the founder and Managing Member of Sequoia Financial and CFO of FG Financial Group. The SPAC plans to target the financial services industry in North America, focusing on businesses with strong management teams, differentiated products or services, potential or historical growth, and an identified pathway to long-term profitability.
Innovative Digital Investors Acquisition was founded in 2023. It plans to list on the Nasdaq under the symbol IDIAU. ThinkEquity is the sole bookrunner on the deal.
