Xsolla SPAC 1 (XSLL)

Xsolla SPAC 1 is a special purpose acquisition company, or blank-check company, whose Class A ordinary shares trade on the Nasdaq. It was formed to raise money through an initial public offering and then merge with or acquire an operating business using the funds placed in trust.

The vehicle is affiliated with Xsolla, a video game commerce company that provides payment processing, distribution and monetization tools to game developers and publishers. Given that background, the SPAC is expected to focus on opportunities in gaming, interactive entertainment and related technology, although it is not limited to a single sector.

As a blank-check company it has no commercial operations of its own, and any proposed business combination would be subject to shareholder approval, with redemption rights for public shareholders.