Anthony Pompliano takes his Bitcoin-native economic platform Procap BTC Public through a $ 1 billion merger with Columbus Circle Capital Corp. In (CCCM), a business development company (Special-Purpose Company (SPAC) sponsored by an affiliated Cohen & Company.
The transaction announced on Monday places the new device, Procap Financial, Inc., as one of the largest Bitcoin state boxes ever to hit public markets.
In what is called the greatest initial fundraise for a public bitcoin
Troasury Company To date, Procap raised $ 550 million in preferred equity and secured $ 225 million in convertible notes, giving future shareholders immediate exposure to Bitcoin through a structure designed to acquire BTC prior to the end of the agreement.
Led by Pompliano, a well-known investor and vocal bitcoin spokesman, Procap aims to function at the intersection of digital assets and traditional funding.
The company plans to generate profits not only by keeping BTC, but by actively implementing its Bitcoin balance across yield-generating strategies that reduce the risk and benefit from cryptofinance infrastructure.
“The older financial system is disturbed by Bitcoin,” Pompliano said in a statement. “Procap Financial represents our solution to the rising demand for Bitcoin-native financial services among sophisticated investors.”
The merger appreciates the combined unit for up to $ 1 billion, depending on the last Bitcoin purchase price for closure. Procaps BTC assets will deteriorate until the transaction is completed, giving investors almost instant BTC exposure without waiting for the company to become public.
The transaction is expected to close by the end of 2025, pending SEC Review and shareholder approval.
The Financial Times first reported that Pompliano was set to become CEO of Procap BTC and that the company was planning to raise $ 750 million to acquire Bitcoin.
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