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Blockchain SPAC Hash Space Acquisition files for a $40 million IPO

August 5, 2021

Hash Space Acquisition, a blank check company targeting the blockchain sector, filed on Thursday with the SEC to raise up to $40 million.

The Beijing, China-based company plans to raise $40 million by offering 4 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination. At the proposed deal size, Hash Space Acquisition would command a market value of $53 million.

The company is led by CEO and Chair Haiyi Lu, the founder and General Manager of Great Chiliocosm World Pisces (Tianjin) Enterprise Management and former Senior Director of Wealth Management Operations in JD Digits. The company plans to target the blockchain sector, focusing on businesses with equity values between $100 million and $300 million.

Hash Space Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol HACUU. The company filed confidentially on June 17, 2021. Chardan Capital Markets is the sole bookrunner on the deal.