ProCap Acquisition Corp. (NASDAQ:PCAPU) announced the pricing of its upsized $220 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “PCAPU”, Wednesday, May 21, 2025.
The new SPAC aims to mount a broad search for a combination target and hopes to find one with sustainable competitive advantages and high potential for cash flow growth.
ProCap’s management team is led by Chief Executive Officer Anthony J. Pompliano III and Chief Financial Officer Catalina Abbey. The Board is to include Michael Gonzalez, Lindsey Haswell and Ben Buchanan.
Total SPAC deal count for 2025 year-to-date is now 46. This offering is expected to close on Thursday, May 22, 2025.
BTIG is serving as the sole book-running manager for the offering. Reed Smith LLP is serving as Issuer’s Counsel with Kirkland & Ellis LLP serving as Underwriter’s Counsel. MaloneBailey LLP serves as auditor. Odyssey Transfer and Trust Company is acting as trustee.
INFINT 2 (NASDAQ: Symbols TBD) has filed for a $100 million SPAC with another team running it back after their first successful close last year. The new SPAC has one right to a 1/10 share in each unit and has overfunded its trust to 100.50% with $10.05 per unit in trust from the start. This...
FIGX (NASDAQ:FIGXU) has filed for a $131 million SPAC with the goal of taking public a financial asset manager with the potential of expanding into a global player. The new S-1 is the ninth of the month and was followed by a tenth this morning, suggesting that May may yet hit April’s blistering pace of...
At the SPAC of Dawn Tariffs continue to show up in the earnings and corporate moves of de-SPACs. This week, crypto firm Cipher Mining (NASDAQ:CIFR) noted that a major impetus for its offering of $150 million of convertible notes was the expected need to pay tariffs on the server equipment it is importing for its...
ProCap Acquisition Corp. (NASDAQ:PCAPU) announced the pricing of its upsized $220 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “PCAPU”, Wednesday, May 21, 2025. The new SPAC aims to mount a broad search for a combination target and hopes to find one with sustainable competitive advantages and...
Armada Acquisition Corp. II (NASDAQ:AACIU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “AACIU”, Wednesday, May 21, 2025. The new SPAC aims to combine with a target company in the financial services (“FinTech”), Software-as-a-Service (“SaaS”), or generative artificial intelligence (“AI”) industries...