Global Blockchain Acquisition and Cardea, a global wealth management firm, announced a definitive merger agreement at an implied pro-forma enterprise valuation of approximately $175 million.
The transaction consideration will be paid in newly issued shares of the SPAC’s common stock.
If approved, upon completion of the transaction, renamed Cardea Capital Holdings would be listed on the Nasdaq.
ArentFox Schiff is serving as legal advisor to GBBK. Ellenoff Grossman & Schole is serving as U.S. legal counsel to Cardea.
Global Blockchain raised $150 million in a May 2022 IPO.
The target is a cross-border wealth advisory, asset and investment management firm. Cardea serves institutions, high-net-worth individuals, and families — navigating markets through socially responsible investing, providing efficient access to institutional grade investment opportunities and private office services. Read more.
