SPAC Listing Plan for Solana Vault Company Led by Joe McCann Has Been Terminated

According to ChainCatcher, citing a report from Blockworks, the SPAC listing plan for the Solana digital asset treasury company led by Joe McCann has been called off. The company had originally planned to raise up to $1.5 billion through a SPAC merger with Gores Holdings X, with McCann serving as co-founder and CEO. Sources familiar with the matter said the reason for the cancellation has not been disclosed, and the company may seek alternative listing options in the future. Previously, McCann’s hedge fund Asymmetric reportedly suffered losses of nearly 80% this year, as disclosed by an LP.

Earlier reports indicated that the new Solana treasury company, Accelerate, aims to raise $1.5 billion, with Joe McCann set to serve as CEO.