Blockchain-Focused SPAC Among 3 IPOs Totaling $400M
By Tom Zanki (August 12, 2021, 4:04 PM EDT) -- A special purpose acquisition company focused on acquiring a blockchain or insurance technology business was among three blank-check firms to go public Thursday, raising $400 million combined under guidance from six law firms.
Oxbridge Acquisition Corp., advised by Foley & Lardner LLP, raised $100 million after selling 10 million units at $10 each. Its units began trading Thursday, along with debuts by two additional SPACs, one that raised $250 million and is seeking to acquire a health care technology company and another that raised $50 million and is looking to buy a consumer business with ties to Africa.
SPACs, also known...
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