‘SPAC King’ Palihapitiya Launches $250M Vehicle for DeFi and AI Deals

Venture investor Chamath Palihapitiya filed an S-1 registration statement with the SEC on August 18, 2025, for American Exceptionalism Acquisition Corp. A, seeking to raise $250 million through a blank-check company. The SPAC plans to list on the NYSE under the ticker AEXA.

The company will sell 25 million Class A shares at $10 each without warrants. Palihapitiya serves as chairman, with Steven Trieu as CEO and Jeffrey Vignos as CFO. The vehicle is incorporated in the Cayman Islands as an exempted company.

The filing identifies four target sectors: energy production, artificial intelligence, decentralized finance, and defense. The prospectus states the company will “focus on four areas” considered critical to U.S. leadership. Regarding DeFi specifically, the filing notes “the next stage of development is the increased integration between traditional finance and decentralized finance” and cites Circle’s public listing as an example.

The SPAC has 24 months from IPO closing to complete a merger, extendable to 27 months if a definitive agreement is executed within the initial timeframe. If no merger occurs, the company will redeem public shares and return capital to investors.

The offering includes a 45-day overallotment option for up to 3.75 million additional shares. Sponsor AEXA Sponsor LLC will purchase private placement shares, while public investors receive redemption rights connected to any business combination.

Palihapitiya previously sponsored multiple SPACs during 2019–2021, including the vehicle that merged with Virgin Galactic. The filing’s prior-deals summary notes that other Palihapitiya-affiliated SPACs, including Social Capital Suvretta Holdings II and III, were later liquidated and returned capital to shareholders.

The registration document provides an investment thesis around bridging traditional markets with blockchain-based finance. The company aims to identify targets within the specified sectors that align with maintaining American competitiveness in these areas.