This Bitcoin Mining Startup Looks To Go Public Via SPAC Merger Worth $1.3B

April 1, 2022 11:20 AM | 1 min read | Make a Comment

Bitcoin mining and infrastructure startup Prime Blockchain Inc agreed to go public in the U.S. via a special purpose acquisition company (SPAC) merger with 10X Capital Venture Acquisition Corp II VCXA.
The deal is worth $1.25 billion, including debt.
Prime Blockchain operated data centers and crypto mining operations across North America.
Former Goldman Sachs Group Inc GS investment banking veteran Gaurav Budhrani will be CEO of the combined company that will likely get listed on the Nasdaq by the second half of 2022.
Prime Blockchain secured $300 million in equity financing for the deal from an affiliate of Cantor Fitzgerald & Co.
Price Action: VCXA shares traded higher by 0.51% at $9.88 on the last check Friday.
Photo by andre-francois-mckenzie via Unsplash

Posted In: Cryptocurrency News IPOs Markets Tech Briefs SPACs SPACs Attack

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