[barnyarddog]

Team includes Julian Sevillano (PayPal Digital), Sheraz Shere (Solana), Jurgen van de Vyver (Launchpad), Josh Fried (Solana)

New crypto SPAC play IPOs today:

Wen Acquisition (?)

Team includes Julian Sevillano (PayPal Digital), Sheraz Shere (Solana), Jurgen van de Vyver (Launchpad), Josh Fried (Solana)

Disclosure: Long $WENNU in $ARB.to pic.twitter.com/MYIZqCWQ5s

— Julian Klymochko (@JulianKlymochko) May 16, 2025

[barnyarddog]

Our Investment Thesis and Strategy

We believe that there is a significant backlog of stablecoin and digital asset infrastructure companies building and scaling products in the payments, asset tokenization and crypto-backed banking industry that are ready to transition into the public markets. According to Cointelegraph, since 2020, venture capital funding in the crypto and blockchain space has totaled approximately $80 billion. At the same time, as detailed in the Artemis stablecoin dashboard the total market capitalization of U.S. dollar stablecoins has grown to $215 billion in February 2025 and total monthly transfer volumes of U.S. dollar stablecoins was approximately $5 trillion in December 2024. Our management team believes there is a robust pipeline of platform and infrastructure companies that are generating significant returns by enabling this digital dollar economy by providing infrastructure for wallets, security, user interfaces, compliance and reporting.

Our management team also believes that the recent change in administration will facilitate regulatory clarity that will drive additional growth and innovation in this sector. New leadership in the U.S. financial regulatory agencies have signaled a supportive and collaborative approach towards new technologies in financial services generally and specifically pointed to the need for the United States to lead in digital assets innovation.

Certain of our directors are associated with Solana, a non-profit foundation based in Zug, Switzerland, dedicated to the decentralization, adoption, and security of the Solana blockchain ecosystem, which is a blockchain platform with a market cap that exceeded $100 billion in February 2025. We believe that this association may provide introductions to key management of companies and investors with which Solana has relationships and other potential sources of business combination targets. We believe that the broad experience of our combined team will enable us to explore a wide range of potential acquisition targets meeting our target characteristics. We are confident that this team has the skills, experience and relationships needed to source and execute our initial business combination at a favorable valuation and then create value in businesses that we acquire. In addition to leveraging the contacts and relationships held by our team to identify attractive acquisition opportunities, we will also benefit from the long-standing relationships held by members of the Solana team, some of which are our directors and some of which are indirect owners of our founder shares and private placement warrants through our sponsor.

424B4
05/16/2025
https://www.otcmarkets.com/filing/html?id=18477138&guid=MOc-kKDmXUP2B3h

[barnyarddog]

Wen Acquisition is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. We currently intend to concentrate our efforts on infrastructure companies in the financial technology sector that are focused on enablement of digital assets, such as stablecoins, through the incorporation and integration of blockchain networks into the traditional financial systems. We expect to pursue both domestic and global businesses.