Global Blockchain Acquisition, a blank check company led by execs at Global Blockchain Ventures targeting blockchain tech firms, raised $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.
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. It plans to target businesses with equity valuations between $300 million and $3 billion.
Global Blockchain Acquisition plans to list on the Nasdaq under the symbol GBBKU. I-Bankers Securities acted as sole bookrunner on the deal.
