Blockchain cloud infrastructure company W3BCloud to go public via $1.25 billion SPAC
W3BCloud joins hands with SLAC to increase the adoption rate of the platform in the blockchain developer community
By Shashank Bhardwaj
W3BCloud, a Web3 storage and compute infrastructure provider, announced on Monday that it would go public through a merger with an Arizona-based blank check firm, Social Leverage Acquisition Corp I. (SLAC). W3BCloud is a technology collaboration between Advanced Micro Devices (AMD), ConsenSys, and its founders. If no redemptions occur, the transaction is expected to generate up to $345 million in proceeds from the special purpose acquisition company's (SPAC) trust account. The transaction is also expected to take W3BCloud's enterprise value to $1.25 billion, including debt.
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