Chamath’s “American Exceptionalism” SPAC to target DeFi among four key areas

The $250M blank-check vehicle will focus on decentralized finance and other emerging tech sectors, according to SEC filing.

Photo: Brendan McDermid

Key Takeaways

• Chamath Palihapitiya’s American Exceptionalism Acquisition Corp. is raising $250M to invest in DeFi, AI, defense, and energy production.
• The SPAC highlights Palihapitiya’s track record in clean energy, AI hardware, early crypto investment, and defense tech.

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Chamath Palihapitiya is returning to the SPAC market with a new vehicle focused on decentralized finance and other high-growth sectors.

According to a filing with the SEC, American Exceptionalism Acquisition Corp. A is seeking to raise $250 million in its initial public offering, selling 25 million Class A shares at $10 each. The Cayman Islands-incorporated company intends to list on the New York Stock Exchange under the ticker AEXA.

The blank-check firm has not identified a specific target but said it will prioritize businesses aligned with Palihapitiya’s areas of expertise. It named DeFi, artificial intelligence, defense, and energy production as its four sectors of focus.

The SPAC has a 24-month window to complete a merger, or up to 27 months if a deal is signed within that period, before it must return capital to investors.

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