Digital Asset Acquisition and Real Asset Acquisition File for IPOs

Dow Jones

08 Feb

By Stephen Nakrosis

Digital Asset Acquisition and Real Asset Acquisition, two special purpose acquisition companies, filed for $150 million initial public offerings on Friday.

Both companies list Peter Ort as co-chairman and principal executive, and Jeff Tuder as co-chairman and chief financial officer. The two companies also said members of their board, management team and affiliates of their sponsors have experience with blank-check companies, including Concord Acquisition Corp, Concord Acquisition Corp II, and Concord Acquisition Corp III.

Each SPAC plans to offer 15 million units, priced at $10 each, in its IPO.

Digital Asset Acquisition said it plans to target opportunities and companies in the digital asset and cryptocurrency sectors. Real Asset Acquisition intends to target opportunities and companies in sectors underpinned by assets including metals and mining, real estate, infrastructure and adjacent sectors, it said.

Real Asset Acquisition said it intends to apply to list its units on The Nasdaq Global Market under the symbol RAAQU. Digital Asset Acquisition said it intends to apply to list units on The Nasdaq Global Market under the symbol DAAQU.

Cohen & Company Capital Markets is acting as lead book-running manager for each of the offerings.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

February 07, 2025 17:39 ET (22:39 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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