Venture capitalist Chamath Palihapitiya’s new special-purpose acquisition company (SPAC) has witnessed a steady uptrend after the billionaire issued a warning to retail investors.
The American Exceptionalism Acquisition Corporation (AEXA) began trading on the New York Stock Exchange last week with Palihapitiya announcing that the blank check company is not intended for retail investors.
“I want to temper retail investors’ involvement with my SPACs. This deal was built for institutional investors. Specifically, 98.7% went to large institutions, each picked explicitly by me. The remaining 1.3% was allocated to retail investors.”
AEXA aims to partner with companies in energy, artificial intelligence, decentralized finance (DeFi), and defense systems.
Palihapitiya says that the SPAC was designed almost entirely institutionally backed because he learned that these vehicles are not ideal for most retail investors.
“They are for investors who can underwrite the volatility, place it as part of a broader structured portfolio and have the capital to support the company over the long run.”
AEXA launched with an initial public offering of 30 million shares valued at $10, but demand for the stock prompted the issuance of an additional 4.5 million shares.
“AEXA was more than 5x oversubscribed with a total of $1.4 billion of demand. As a result, we upsized AEXA to $345 million.”
AEXA closed at $11.59 and is up by 9.24% since its launch on September 30th.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Được in lại từ fxco_id, bản quyền được giữ lại bởi tác giả gốc.
Tuyên bố miễn trừ trách nhiệm: Quan điểm được trình bày hoàn toàn là của tác giả và không đại diện cho quan điểm chính thức của Followme. Followme không chịu trách nhiệm về tính chính xác, đầy đủ hoặc độ tin cậy của thông tin được cung cấp và không chịu trách nhiệm cho bất kỳ hành động nào được thực hiện dựa trên nội dung, trừ khi được nêu rõ bằng văn bản.
Tải thất bại ()