Publicly traded special purpose acquisition company Social Leverage Acquisition Corp I (NASDAQ: SLAC) (“SLAC”) and W3BCLOUD Holdings Inc. (“W3BCLOUD”), a leading storage and compute infrastructure provider for Web3, today announced they have revised the valuation of their previously announced business combination transaction (the “Business Combination”). This strategic decision was made in recognition of W3BCLOUD’s commitment to driving long-term value creation for all shareholders. The new transaction terms, effected through an amendment to the business combination agreement executed today, adjust the pro forma enterprise value of W3BCLOUD from approximately $1.25 billion to approximately $700 million, a ~44% reduction.
Social Leverage Acquisition Corp I and W3BCLOUD Announce Revised Business Combination Transaction Terms
Apr 21, 2023
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