DI25005 Spac - Venture Capital Investor V01 200825

 ‘Spac king’ plans listing

A venture capital investor, nicknamed Wall Street’s “Spac king” for his highprofile blank-cheque deals, is set to take his latest special purpose acquisition vehicle public. American Exceptionalism Acquisition Corp, chaired by Chamath Palihapitiya, will list on the New York Stock Exchange and plans to raise $250 million to target companies in artificial intelligence, energy, decentralised finance and defence sectors. Spacs are shell companies that raise money through a stock market flotation to merge with a private business and take it public, offering businesses an alternative route to the market.

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