Wen Acquisition Corp Announces the Pricing of $261,000,000 Initial Public Offering

Rhea-AI Summary

Wen Acquisition Corp has announced the pricing of its IPO of 26.1 million units at $10.00 per unit, totaling $261 million. Trading will commence on Nasdaq under "WENNU" on May 16, 2025. Each unit comprises one Class A ordinary share and half a redeemable warrant, with whole warrants allowing purchase of shares at $11.50.

The company is a blank check company primarily targeting infrastructure companies in the fintech sector, specifically those enabling digital assets and blockchain integration into traditional financial systems. The management team is led by CEO Julian M. Sevillano and CFO Jurgen van de Vyver. Cantor Fitzgerald & Co. serves as the sole book-running manager, with underwriters having a 45-day option to purchase up to 3,915,000 additional units.

Positive

• Large IPO size of $261 million indicates strong initial capital base
• Focus on high-growth fintech and blockchain sector
• Experienced management team with fintech expertise
• Listed on major exchange (Nasdaq)
• Underwriter option for additional $39.15M through over-allotment

Negative

• Blank check company with no existing operations
• No guaranteed successful business combination
• High dependency on management team's ability to identify suitable acquisition targets
• Potential dilution from warrant exercises

Insights

IPO Specialist

Wen Acquisition Corp raises $261M in SPAC IPO targeting blockchain/fintech infrastructure acquisitions.

Wen Acquisition Corp has successfully priced its SPAC IPO, raising $261 million by offering 26.1 million units at $10.00 each on Nasdaq. Each unit includes one Class A share and half a warrant (exercisable at $11.50). This structure follows the standard SPAC template, with $10.00 per unit going into a trust account that will eventually fund their business combination.

What makes this SPAC noteworthy is its specific focus on infrastructure companies in the financial technology sector that enable digital assets through blockchain integration with traditional financial systems. This positions Wen at the intersection of two high-growth areas - infrastructure development and blockchain technology - rather than targeting direct cryptocurrency plays.

The deal includes typical SPAC features: a 45-day overallotment option for underwriters (potentially adding $39.15 million if fully exercised), Cantor Fitzgerald serving as sole book-runner, and the standard separation of units into individual shares (WENN) and warrants (WENNW) post-IPO. The management team brings credibility through CEO Julian Sevillano and a board that appears designed to navigate both traditional finance and blockchain sectors.

This IPO represents significant investor capital being positioned for deployment in the blockchain infrastructure space, indicating continued institutional interest in companies building the financial rails for digital asset integration rather than speculative crypto investments. The $261 million raise (potentially $300.15 million with overallotment) provides substantial acquisition firepower in this specialized sector.

New York, NY, May 15, 2025 (GLOBE NEWSWIRE) -- Wen Acquisition Corp (the “Company”) announced today the pricing of its initial public offering of 26,100,000 units at a price of $10.00 per unit. The units are expected to be listed on The Nasdaq Global Stock Market LLC (“Nasdaq”) and begin trading on May 16, 2025, under the ticker symbol “WENNU.” Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to certain adjustments. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. An amount equal to $10.00 per unit will be deposited into a trust account upon the closing of the offering. Once the securities constituting the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “WENN” and “WENNW,” respectively. The offering is expected to close on May 19, 2025, subject to customary closing conditions. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,915,000 units at the initial public offering price to cover over-allotments, if any.

The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution. The Company’s primary focus, however, will be on infrastructure companies in the financial technology (“fintech”) sector that are focused on enablement of digital assets, such as stablecoins, through the incorporation and integration of blockchain networks into the traditional financial systems.

The Company’s management team is led by Julian M. Sevillano, its Chief Executive Officer and Chairman of the Board of Directors (the “Board”), and Jurgen van de Vyver, its Chief Financial Officer. The Board also includes Josh Fried, Co-Vice Chairman of the Board, Sheraz Shere, Co-Vice Chairman of the Board, and Drew Glover.

Cantor Fitzgerald & Co. is acting as sole book-running manager for the offering.

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, New York, New York 10022, or by email at prospectus@cantor.com, or by accessing the SEC’s website, www.sec.gov.

A registration statement relating to the securities has been filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on May 15, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the expected closing of the proposed initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all.

Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the “Risk Factors” section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Investor Contacts

Wen Acquisition Corp
Jurgen van de Vyver
jurgen@launchpad.vc
510-200-8878

FAQ

What is the IPO price and size for Wen Acquisition Corp (WENN)?

Wen Acquisition Corp's IPO consists of 26.1 million units priced at $10.00 per unit, totaling $261 million. Each unit includes one Class A ordinary share and half a warrant.

When will WENN stock start trading on Nasdaq?

The units will begin trading on Nasdaq under symbol 'WENNU' on May 16, 2025. The Class A shares and warrants will later trade separately under 'WENN' and 'WENNW' respectively.

What is Wen Acquisition Corp's business focus?

Wen Acquisition Corp is a blank check company targeting infrastructure companies in the fintech sector, specifically those focused on digital assets and blockchain integration into traditional financial systems.

Who are the key executives of Wen Acquisition Corp (WENN)?

The company is led by Julian M. Sevillano as CEO and Chairman of the Board, and Jurgen van de Vyver as CFO.

What are the terms of WENN's warrants?

Each whole warrant entitles holders to purchase one Class A ordinary share at $11.50 per share. Only whole warrants will trade, and no fractional warrants will be issued.