Silicon Valley Acquisition Corp. Completes $200 Million IPO and Private Placement

Silicon Valley Acquisition Corp. has completed a $200 million initial public offering (IPO) and private placement, according to a filing with the Securities and Exchange Commission (SEC) ^[7].

The company, which is a special purpose acquisition company (SPAC), raised $200 million in gross proceeds from the sale of 20 million units at $10 per unit. The units consist of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $11.50 per share.

The IPO and private placement were led by Morgan Stanley, Citigroup, and Wells Fargo Securities, among others. The company plans to use the proceeds from the offering to fund the acquisition of one or more businesses or assets.

The completion of the IPO and private placement marks a significant milestone for Silicon Valley Acquisition Corp. and its sponsors, who have been working to identify and acquire a target company. The company's IPO and private placement are expected to provide the necessary capital to pursue a strategic acquisition.

The SEC filing provides additional details on the IPO and private placement, including the terms of the offering and the use of proceeds. Investors and analysts will be closely watching the company's progress as it moves forward with its acquisition strategy.

Sources

[7] Silicon Valley Acquisition Corp. completes $200 million IPO and private placement