10X Capital Venture Acquisition, a blank check company formed by 10X Capital targeting a tech-enabled business, raised $175 million by offering 17.5 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Hans Thomas, founder and CEO of venture firm 10X Capital, and COO and Director David Weisburd, founder of venture firm Growth Technology Partners, which was acquired in 2019 by 10X Capital, where he now serves as General Partner and co-head of venture capital. The company plans to target high growth technology and tech-enabled businesses in the consumer internet, ecommerce, software, healthcare, and financial services industries, among others.
10X Capital Venture Acquisition plans to list on the Nasdaq under the symbol VCVCU. Wells Fargo Securities acted as a lead manager on the deal.
