Crypto influencer Anthony Pompliano dedicated to the blank company focused company, Procap Acquisition Corp (PCAPU), rose 7% on NASDAQ’s debut list after a last minute uprising of the initial public offer.
Procap is strengthened Its IPO from $ 200 million to $ 220 million on May 20, a day before the public launch, showing its 22 million sharing offers to $ 10 each.
Procap sharing closed May 21 trading day up to 7% to $ 10.70, which continued to a 1.6% bump after time up to $ 10.87, Yahoo Finance Data Shut up.
The company has offered underwriters a 45-day option to buy up to 3.3 million additional IPO price shares to cover excess demand.
Procap said in a regulation on April 30 File That the firm will be a special goal of obtaining a company (SPAC) that will be viewed to invest, and potentially obtain public, financial services companies, digital assets, asset management or health care sector.
The pompliano is one of The largest cheerleaders of the crypto industry.
Pompiiano said CNBC on May 21 that he itching to take a public to a company in the past five years but have not seen enough demand in private markets up to six months ago, citing recent changes in The US regulation landscape affects financial markets.
Related: Texas House passes strategic bitcoin reserve bill
He believes his blank check firm will invest in crypto-native and traditional financial businesses as he hopes the sectors will meet in the coming years.
“The reason I use the term financial service is really the new digital world and the old incumbent world is all combined.”
Spacs haven’t done it right in the past, POMP says
At CNBC, Pompliano pressed why he chose to make a procap a spac, with history who has seen high rates of failure due to sponsor conflicts, dilution, imagination -aware values and regulatory reviews.
Pompliano said Spacs get a bad reputation Because companies often treat them like public venture capital, that targets high -growth companies that lose a lot of money in high appreciation.
Pompliano mentioned that he put the “millions of dollars” of his own money on the line.
“We have real skin in the game,” Pompliano said, and added: “I took a great risk to reputation.”
Brent Saunders, CEO of Firm Products Firm Bausch + Lomb, also joined as A Strategic Adviser. Saunders have completed more than $ 300 billion worth of fusion and acquisition in the last 17 years.
Magazine: Danger signs for Bitcoin as retail that left it in institutions: Sky Wee
