New $200M SPAC Targets Crypto & Web3 Firms with Focus on Infrastructure

A new special purpose acquisition company (SPAC) has filed for an IPO to raise $200 million, aiming to acquire businesses in the fast-growing world of digital assets like cryptocurrencies and blockchain infrastructure. Known as Bitcoin Infrastructure Acquisition Corp Ltd., this SPAC will merge with or buy a firm operating within Web3, DeFi, and Fintech sectors. 20 million shares are being offered for public investment with a redemption option for investors who disagree with the eventual merger. If no acquisition occurs within 24 months, the SPAC will liquidate and return funds to investors.