Social Leverage Acquisition I in a regulatory filing included an investor presentation highlighting its proposed merger with W3BCLOUD Holdings, a storage and compute infrastructure provider. The transaction values the combined company at an enterprise value of $1.25 billion.
Founded in 2018, W3BCLOUD provides storage and compute infrastructure to power Web3’s decentralized economy.
If the deal is approved, the company would receive up to $345 million in proceeds from the SPAC’s cash in trust, assuming no redemptions. Additionally, W3BCLOUD has received commitments for $40 million from ConsenSys, SK and others for new investments in connection with the merger transaction, and has an agreement with AMD for an additional equity investment of $10 million. The parties also intend to raise up to $100 million post-announcement. Read more.
