Express
Joe McCann-led Solana Treasury Company SPAC Listing Plan Terminated
Summary: According to Blockworks, the plan for Solana's digital asset treasury company led by Joe McCann to go public through a SPAC has been halted. The company originally planned to raise up to $1.5 billion through a merger with Gores Holdings X, with McCann serving as co-founder and CEO. Sources say the reason for the current ...
According to Blockworks, the plan for Solana's digital asset treasury company led by Joe McCann to go public through a SPAC has been halted. The company originally planned to raise up to $1.5 billion through a merger with Gores Holdings X, with McCann serving as co-founder and CEO. Sources say the reason for the current deal cancellation has not been disclosed, and they may seek other listing options in the future. Previously, McCann's hedge fund Asymmetric LP disclosed nearly an 80% loss for the year. In previous news, the new Solana Treasury Company Accelerate planned to raise $1.5 billion, with Joe McCann set to become CEO.
