Blockchain Coinvestors Acquisition I, a blank check company targeting blockchain-enabled businesses in any sector, raised $261 million by offering 26.1 million units at $10. The company offered 1.1 million more units than anticipated. Each unit contains one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by Chairman Matthew Le Merle, the co-founder and Managing Partner of the Blockchain Coinvestors Funds, CEO and Director Lou Kerner, a Partner at Blockchain Coinvestors Funds and Head Crypto Analyst at Quantum Economics, and Managing Director Alison Davis, the co-founder and Managing Partner of the Blockchain Coinvestors Funds.
The SPAC aims to leverage management's experience to target blockchain-enabled technology companies with the potential to be industry disruptors.
Blockchain Coinvestors Acquisition I plans to list on the Nasdaq under the symbol BCSAU. Cantor Fitzgerald and Moelis & Company acted as joint bookrunners on the deal.
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