Crypto execs team up for $200M Bitcoin Infrastructure Acquisition SPAC
A team of crypto executives has banded together to raise $200 million for a special acquisition company, which will look for a crypto business to take public.
A patchwork of crypto executives is teaming up to raise $200 million to take their blank-check company public amid a boom in crypto public debuts.
The Cayman Islands-based Bitcoin Infrastructure Acquisition Corp Ltd, a special purpose acquisition company (SPAC), plans to offer 20 million shares for $10 each on the Nasdaq under the ticker “BIXIU,” it said in a regulatory filing on Wednesday.
The firm plans to merge with an existing company to take it public, but has yet to determine a target. It will focus on those involved in “digital assets, Web3 technologies, financial services infrastructure, and other blockchain-driven business models.”