Global Blockchain Acquisition, a blank check company led by execs at Global Blockchain Ventures targeting blockchain tech firms, filed on Wednesday with the SEC to raise up to $150 million in an initial public offering.
The Orlando, FL-based company plans to raise $150 million by offering 15 million units at $10. Each unit consists of one share of common stock, one right to receive one-tenth of a share upon the completion of an initial business combination, and one warrant, exercisable at $11.50. At the proposed deal size, Global Blockchain Acquisition would command a market value of $191 million.
The company is led by CEO and Director Max Hooper and Chairman David Metcalf, who currently serve as General Partners and Managing Directors of Global Blockchain Ventures. Hooper also serves as the CEO of Merging Traffic and ASC World Wide, and Metcalf is currently the Chairman of ASC World Wide, InteCrowd, and Merging Traffic Fund. Global Blockchain Acquisitions plans to pursue prospective targets domiciled in North America, Europe, and/or Asia that are focused on blockchain infrastructure, blockchain applications, and related technologies.
The company was founded in 2021 and plans to list on the Nasdaq under the symbol GBBKU. Global Blockchain Acquisition filed confidentially on February 24, 2022. I-Bankers Securities is the sole bookrunner on the deal.
