$1.5B SPAC deal for Solana DAT reportedly canceled

Description

A $1.5B SPAC (Special Purpose Acquisition Company) deal involving Joe McCann’s Solana DAT (Digital Asset Treasury) has reportedly been called off. The deal was called off following backlash over the underperformance of his fund, Asymmetric Financial. Anonymous sources with insider knowledge of the deal said the DAT’s situation was “still fluid,” and the company was trying to find an alternative way forward. The DAT, set to be called Accelerate according to the investor pitch deck, is planned to ...