Blockchain Coinvestors Acquisition I, a blank check company targeting blockchain-enabled businesses in any sector, filed on Thursday with the SEC to raise up to $250 million in an initial public offering.
The Cayman Islands-based company plans to raise $250 million by offering 25 million units at $10 per unit. Each unit contains one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Blockchain Coinvestors Acquisition I would command a market value of $325 million.
The company is led by CEO and Director Lou Kerner, Head Crypto Analyst at Quantum Economics and Founding Partner of CryptoOracle, and Chairman Matthew Le Merle, Investment Manager of sponsor Blockchain Coinvestors. The company aims to leverage management's experience to target blockchain-enabled technology companies with the potential to be industry disruptors.
The company was founded in 2021 and plans to list on the Nasdaq under the symbol BCSAU. Cantor Fitzgerald, and Moelis & Company are the joint bookrunners on the deal.
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