Blockchain Moon Acquisition Corp. (BMAC), a newly formed special purpose acquisition company (SPAC) based in Jacksonville, Fla., has been given the green light by the U.S. Securities and Exchange Commission to list $100 million worth of shares in an initial public offering (IPO).

The company is pricing 10 million units at $10 each, and the units will be listed on Tuesday on the Nasdaq Global Market under the ticker symbol “BMAQU,” according to a Form S-1 filing with the SEC last month. Each unit consists of one common share, one redeemable warrant to acquire half a share and one right to purchase 1/10th of a common share.

Chardan Capital Markets of New York is acting as sole book-running manager, and the offering is expected to close on Thursday.

With the listing, BMAC CEO Enzo Villani told CoinDesk via email on Monday the next step is to “find the right target for the SPAC and execute a merger.”

“We ... have been working on this for the past few months,” Villani said. “The SPAC is focused on merging with a growth-oriented company in the blockchain economy who is seeking capital and can leverage the public markets to scale their business.”

A SPAC is a company without commercial operations. It is designed to raise capital via an IPO and then acquire or merge with existing companies. BMAC defines itself as a “blank check” company focused on pursuing high-growth blockchain technology companies in North America, Europe and Asia, according to its website.

According to the filing, the blockchain company will target companies that have “significant competitive advantages and/or underexploited expansion opportunities.” The expansion can be accomplished through a “combination of accelerating organic growth and finding attractive add-on acquisition targets,” the company notes.

“We intend to seek to identify companies with strong, public-ready management teams, with solid corporate governance and reporting policies that have the experience to execute successfully and create value for stakeholders,” the filing reads.

Read more: What Is a SPAC? Your Questions Answered