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Chamath Palihapitiya Backs New $250M SPAC Targeting Crypto and Tech Deals

19 August 2025
in Crypto
Reading Time: 3 mins read
105 3
Home News Crypto

American Exceptionalism Acquisition Corp. A has launched a $250 million initial public offering, positioning itself as one of the latest blank-check firms seeking to tap into the digital asset and emerging technology markets.

The Cayman Islands-incorporated special purpose acquisition company (SPAC) is sponsored by AEXA Sponsor LLC and led by investor Chamath Palihapitiya, who has built a reputation for backing disruptive ventures. The firm sold 25 million Class A ordinary shares at $10 apiece, with an additional 3.75 million shares available to the underwriter under a 45-day option. Notably, unlike most SPAC IPOs, the deal comes without warrants, simplifying its capital structure.

Chamath Palihapitiya is returning to the blank-check game after throwing in the towel in 2022 on a pair of jumbo firms that failed to find targets https://t.co/d2XRQSHiKo

— Bloomberg (@business) August 18, 2025

Palihapitiya and the sponsor have also committed $1.75 million through the purchase of 175,000 private placement shares, which will not carry redemption rights. In addition, 12.3 million Class B founder shares were issued at a nominal price, convertible into Class A stock once specific trading thresholds are reached — $15, $17.50, and $20 per share — aligning long-term incentives with performance.

While the SPAC has yet to identify a merger target, its prospectus makes clear the search will lean toward sectors aligned with Palihapitiya’s expertise, including fintech, blockchain, and cryptocurrency infrastructure. Public shareholders will be entitled to redeem their shares at the trust value should they choose not to participate in a future deal.

The structure gives Palihapitiya significant flexibility to pursue a crypto-focused transaction at a time when institutional demand for digital assets continues to expand. With $250 million in cash and a founder-led mandate, American Exceptionalism Acquisition Corp. enters a crowded SPAC market, but one that remains keen on crypto-driven opportunities.

The launch comes as electric vehicle maker Faraday Future (NASDAQ: FFAI) announced a sharp pivot into digital assets. The Los Angeles-based company said Sunday it will establish a crypto treasury, purchase $30 million worth of digital assets, and explore tokenized car sales. The plan also includes launching a cryptocurrency index fund to track major tokens, signalling a shift in strategy beyond the EV market.

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

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Jewel Buddy

Buddy Jewel is a finance writer specializing in cryptocurrency news. With a keen eye on the latest developments in the digital asset space, I provides insightful and timely updates on the ever-evolving world of crypto.

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