Crypto 1 Acquisition, a blank check company targeting digital assets and cryptocurrency exchanges, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and three-quarters of a warrant, exercisable at $11.50.
The company is led by Chairman Najamul Kidwai, a Venture Partner of Frontier Ventures, and CEO and Director Michael Zhao, the Executive Chairman of the International Digital Currency Markets exchange and CEO of the VGPay crypto payment business. The company plans to target digital assets and cryptocurrency exchange, payment system, and/or related financial services business, in Asia (excl. China and Hong Kong), Europe, North America, and Latin America.
Crypto 1 Acquisition plans to list on the Nasdaq under the symbol DAOOU. B. Riley Securities acted as sole bookrunner on the deal.
