'SPAC king' Chamath Palihapitiya makes a comeback with a new blank-check deal.

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Venture capitalist Chamath Palihapitiya has filed [https://shorturl.at/WPbjV] to list a SPAC worth $250 million under the name of American Exceptionalism Acquisition Corp.

It is expected that the proceeds from the initial public offering will be used to finance the acquisition of companies in energy production, artificial intelligence, cryptocurrencies, and defense.

The price per share for the IPO will be $10, and the firm will be listed on the NYSE.

Unlike other initial public offerings of special purpose acquisition companies, investors in this offering will not receive any warrants, the company said.

"Unlike my private portfolios, which hold many companies and thereby provide diversification, American Exceptionalism Acquisition Corporation A will be an investment vehicle into a single operating company. Consequently, we believe that this investment is most suitable for institutional investors, and retail investors should approach with caution, if at all," Palihapitiya said in a filing.

Bitcoin bull Palihapitiya is a veteran in the SPAC industry and is the founder and chief executive officer of Social Capital.

Palihapitiya led the blank-check company through which SoFi (SOFI [https://seekingalpha.com/symbol/SOFI]) went public in 2021. SOFI has been up 57.3% since the start of 2025.

Opendoor Technologies (OPEN [https://seekingalpha.com/symbol/OPEN]) was another firm that merged with Palihapitiya's firm to list itself in the market, and other companies include Virgin Galactic (SPCE [https://seekingalpha.com/symbol/SPCE]) and Clover Health (CLOV [https://seekingalpha.com/symbol/CLOV]), among others.

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