- ProCap Acquisition Corp rose 7% on its Nasdaq debut, closing at $10.70 per share.
- The initial public offering (IPO) was increased to $220 million, selling 22 million shares at $10 each.
- The blank-check company is designed to acquire or merge with firms in financial services, digital assets, asset management, or healthcare.
- Anthony Pompliano, a well-known crypto advocate, leads the company and invested millions of his own funds.
- Underwriters have a 45-day option to buy an additional 3.3 million shares at the IPO price to meet extra demand.
ProCap Acquisition Corp, a blank-check company founded by crypto influencer Anthony Pompliano, began trading on the Nasdaq on May 21, 2025. The company’s shares climbed 7% from their initial public offering price during its first trading day. ProCap aims to invest in or take public companies in finance, digital assets, asset management, or healthcare.
The IPO was increased from $200 million to $220 million just before launch, with 22 million shares offered at $10 each. At the close of its first trading day, shares reached $10.70, according to Yahoo Finance data, and continued to rise after-hours.
Underwriters were given a 45-day window to purchase up to 3.3 million additional shares at the IPO price to meet higher demand. In an earlier regulatory filing, ProCap disclosed its plans as a Special Purpose Acquisition Company (SPAC), stating its focus on partnerships or mergers in the industries mentioned above.
Anthony Pompliano is known for his Bitcoin and finance podcast and for leading investment firm Professional Capital Management. He told CNBC he has wanted to take a company public for several years and saw improved conditions recently due to changes in U.S. financial regulations. He said his firm will look to invest in both crypto-focused and traditional finance businesses, predicting that the sectors will merge. As Pompliano explained, “The reason why I use the term financial services is basically the new digital world and the old incumbent world are all merging.”
Pressed on the SPAC structure’s mixed reputation, Pompliano said that previous SPAC failures resulted from companies using them as public venture capital tools, often leading to unprofitable ventures and overvalued deals. He emphasized his own investment, saying, “We’ve got real skin in the game… I’m taking a huge reputation risk.”
Brent Saunders, CEO of Bausch + Lomb, also joined ProCap as a strategic adviser. Saunders brings experience from over $300 billion in mergers and acquisitions throughout his career.
ProCap’s launch comes as the industry prepares for more collaboration between traditional financial companies and the digital assets sector.
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