SPAC | Crypto

The move could make Evernorth one of the first public companies to anchor its balance sheet in XRP, signaling growing institutional appetite for digital assets. Evernorth Holdings, a digital asset company with ties to Ripple Labs, announced plans to go public through a merger with Armada Acquisition Corp. II, a Nasdaq-listed special purpose acquisition company (SPAC), in a move aimed at tapping growing institutional demand for publicly traded digital asset treasury firms. The transaction is expected to generate more than $1 billion in gross proceeds, including a $200 million investment from Japan’s SBI Holdings, a company with historical ties to SoftBank. Additional backing is expected from Ripple, Pantera Capital, Kraken and GSR, the company said.  Evernorth said the funds will be used to build one of the world’s largest XRP (XRP) treasuries through open-market purchases of the digital asset. Read more

CoinShares has outlined a $1.2B SPAC with Vine Hill to list on Nasdaq, expected to close by Q4 2025 and create Odysseus Holdings Limited. The firm has reported ~$10B AUM, a 34% ETP share in EMEA, a 32-product suite, and has gained MiCA authorisation via its French unit.   The post CoinShares Targets U.S. Scale via $1.2B SPAC – Nasdaq Debut in Sight appeared first on Cryptonews.

The deal with Vine Hill Capital, which values CoinShares at $1.2 billion, will allow the company to be listed on the US Nasdaq Stock Market. European asset manager CoinShares has entered into a definitive business combination agreement with Vine Hill Capital Investment, a publicly traded special purpose acquisition company (SPAC). CoinShares announced Monday that the company will be publicly listed on the Nasdaq Stock Market in the US through the deal. This will allow investors to participate directly in trading CoinShares stocks, fueling its global expansion plans.  A SPAC is a publicly traded shell company created with the sole purpose of merging with or acquiring an existing company. This allows a company to go public without going through the traditional initial public offering (IPO) process.  Read more

Morgan Creek Digital Assets co-founder and crypto influencer Anthony Pompliano is preparing to launch a new Bitcoin-focused investment vehicle that aims to raise $750 million through a merger with Columbus Circle Capital 1, the Financial Times reported on June 13, citing people familiar with the matter. The new entity, called ProCapBTC, will reportedly secure $500 […] The post Anthony Pompliano planning $750 million Bitcoin-focused investment firm via SPAC appeared first on CryptoSlate.

Anthony Pompliano’s fintech-focused SPAC, ProCap Acquisition Corp, rose 7% on its Nasdaq debut after bumping its IPO to $220 million a day before listing. Crypto influencer Anthony Pompliano’s fintech-focused blank-check company, ProCap Acquisition Corp (PCAPU), rose 7% on its debut Nasdaq listing after a last-minute upsizing of its initial public offering. ProCap had boosted its IPO from $200 million to $220 million on May 20, a day before its public launch, pricing its 22 million shares on offer at $10 each. ProCap shares closed the May 21 trading day up 7% at $10.70, which continued with a 1.6% bump after-hours to $10.87, Yahoo Finance data shows. Read more

Pompliano is banking on his online clout to navigate a tough SPAC market and revive digital asset dealmaking on Wall Street.