Securitize says less than 30% of shareholders in the acquisition firm taking it public elected to redeem, giving it an expected $400 million on its upcoming debut.
Tokenization platform Securitize says it expects to raise $400 million in its upcoming public debut through a merger with a company backed by Cantor Fitzgerald.&
Securitize said on Friday that its final redemption results showed less than 30% of shareholders in Cantor Equity Partners II (CEPT), the special purpose acquisition company that will take Securitize public, had elected to redeem.
The company said it expects to receive about $400 million in gross proceeds from the merger, including related private investment in public equity (PIPE) financing and excluding transaction-related expenses.
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