Securitize says it expects to raise $400M ahead of public debut

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 approximately $400 million in gross proceeds from the merger, including related private investment in public equity (PIPE) financings and excluding transaction-related expenses.

Read more