Anthony Pommy
According to the Financial Times, citing three people who are familiar with the negotiations.
According to the proposed agreement, Procapbtc plans to raise $ 750 million, $ 500 million in equity and $ 250 million in convertible debt, in a merger with Columbus Circle Capital 1, a special acquisition company (SPAC) supported by Cohen & Company, said FT.
An appointment could be announced already next week, although the negotiations are still underway and final terms uncertain.
Bitcoin purchases have become an increasingly popular state treasury strategy, with 126 listed companies now having nearly 820,000 bitcoin, according to Bitcointreasuries.net. Strategy (Mstr), the software manufacturer, whose performer Michael Saylor was pioneering the procedure, now has $ 61 billion value of BTC. If all of Procapbtc’s $ 750 million was spent on Bitcoin, it would rank just outside the top 10 holders of the largest cryptocurrency.
The move reflects renewed enthusiasm in crypto markets after the election of US President Donald Trump, who on Thursday said it is a “honor” to be considered a pro-crrypto president. His administration’s relief of rules for the industry has led a number of companies to consider selling shares to the public. Last week, stableecoin Essuer Circle (CRCL) rose 168% on his first trading day, and Peter Thiel-supported Bullish reportedly pursuing a stock exchange listing. Bullish Group is a parent of both Coindesk and Bullish Exchange.
Pompliano refused to comment on FT, and Cohen & Company did not respond to its request for comment.
