W3BCLOUD, a joint venture between ConsenSys and AMD said it plans to go public by merging with a blank-check firm that would value the company at $1.25 billion.
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According to Reuters, the venture will merge with Social Leverage Acquisition Corp I (SLAC.N) and will fetch up to $345 million in proceeds. The report says that the parties plan to eventually invest in W3BCLOUD up to $50 million.
Once W3BCLOUD goes public in the US, the combined entity will be led by Sami Issa, with Joseph Lubin, founder of ConsenSys, to remain on the board of directors.
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