Latham & Watkins Advises 10X Capital Venture Acquisition Corp. II in its US$1.25 Billion Business Combination with PrimeBlock

Cross-border corporate deal team advises on the transaction that will make crypto infrastructure and mining company a publicly traded company.

April 01, 2022

Prime Blockchain Inc. (PrimeBlock or the Company), a diversified infrastructure provider for blockchain technology that owns and operates a growing portfolio of proprietary data centers and crypto assets mining operations in North America, and 10X Capital Venture Acquisition Corp. II (Nasdaq: VCXA) (10X Capital), a special purpose acquisition company sponsored by 10X Capital, have announced the execution of a definitive Business Combination Agreement. Upon closing of the transaction, which values the combined company at an estimated enterprise value of US$1.25 billion, the combined company is expected to list its stock on the NASDAQ stock market. 

Latham & Watkins LLP represents 10X Capital Venture Acquisition Corp. II in the transaction with a corporate deal team led by London partner David Stewart and Houston partner Ryan Maierson, with Los Angeles corporate attorney Michael Brogan, Houston associates Om Pandya, Zainab Hashmi, and Sydney Verner, and London associate Jason Hyatt. Advice was also provided on tax matters by New York partners Jiyeon Lee-Lim and Eric Kamerman, with New York associate Sam Yang; on sanctions matters by Washington, D.C. partner Eric Volkman, with Washington, D.C. associate Matthew Gregory; on intellectual property matters by Bay Area partner Michelle Gross, with Los Angles associate Nick Goshgarian; and on benefits and compensation matters by New York partner Bradd Williamson, with New York associate Megan Alessi.

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