Crypto 1 (DAOOU) Prices $200M IPO


Crypto 1 (DAOOU) Prices $200M IPO

Crypto 1 Acquisition Corp. announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “DAOOU” Tuesday, December 7.

The new SPAC intends to focus its efforts on a significant digital assets and cryptocurrency exchange, payment system and/or related financial services company, including wallets, lending and decentralized finance. Crypto 1 is led by Founder and Chairman Dr. Najamul Kidwai, Founder and CEO Michael (Xu) Zhao, and CFO David Hytha.

Total SPAC deal count for 2021 year-to-date is now 575. This offering is expected to close on Thursday, December 9.

B. Riley Securities Inc. is acting as the sole book-runner and lead manager of the offering. Reed Smith LLP is serving as Issuer’s Counsel with  Ellenoff Grossman & Schole LLP serving as Underwriter’s Counsel. BDO USA, LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.