RainRock Acquisition, a blank check company targeting cryptocurrency and Web3 technology, filed on Tuesday with the SEC to raise up to $150 million in an initial public offering.
The company plans to raise $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share at the time of the business combination.
RainRock Acquisition is led by CEO and Chairman Raymond Qu, the founder and CEO of payment technology company Geoswift. The SPAC plans to target businesses within cryptocurrency and Web3 technology, with an emphasis on regulated custody and asset management, tokenization platforms focused on trading real world assets, and AI-driven payment infrastructure.
The Vancouver, Canada-based company was founded in 2025. It plans to list on the Nasdaq under the symbol RRCKU. Cohen & Company Securities is the sole bookrunner on the deal.
