{"id":129752,"date":"2025-05-22T02:26:17","date_gmt":"2025-05-22T02:26:17","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=129752"},"modified":"2025-05-22T02:26:17","modified_gmt":"2025-05-22T02:26:17","slug":"pompliano-led-crypto-focused-spac-gains-7-on-nasdaq-after-upsized-ipo","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=129752","title":{"rendered":"Pompliano-led crypto-focused SPAC gains 7% on Nasdaq after upsized IPO"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsCrypto influencer Anthony Pompliano\u2019s fintech-focused blank-check company, ProCap Acquisition Corp (PCAPU), rose 7% on its debut Nasdaq listing after a last-minute upsizing of its initial public offering.<br \/>\nProCap had boosted its IPO from $200 million to $220 million on May 20, a day before its public launch, pricing its 22 million shares on offer at $10 each.<br \/>\nProCap shares closed the May 21 trading day up 7% at $10.70, which continued with a 1.6% bump after-hours to $10.87, Yahoo Finance data shows.<br \/>\nPCAPU\u2019s share price closed up 7% on its debut trading day. Source: Yahoo FinanceThe company has offered underwriters a 45-day option to buy up to 3.3 million additional shares at the IPO price to cover extra demand.<br \/>\nProCap said in an April 30 regulatory filing that the firm will be a Special Purpose Acquisition Company (SPAC) that will look to invest in, and potentially take public, companies in the financial services, digital asset, asset management or healthcare sectors.<br \/>\nPompliano is one of the crypto industry\u2019s biggest cheerleaders, hosting a Bitcoin and finance-focused podcast and leading investment firm Professional Capital Management.<br \/>\nPompliano told CNBC on May 21 that he had been itching to take a company public over the last five years but hadn\u2019t seen enough demand in the private market until six months ago, citing recent changes to the US regulatory landscape affecting financial markets.<br \/>\nRelated: Texas House passes strategic Bitcoin reserve bill<br \/>\nHe hinted that his blank-check firm would invest in crypto-native and traditional finance businesses as he expects the sectors to converge in the coming years.<br \/>\n\u201cThe reason why I use the term financial services is basically the new digital world and the old incumbent world are all merging.\u201d<br \/>\nSPACs haven\u2019t been done right in the past, Pomp says<br \/>\nOn CNBC, Pompliano was pressed on why he chose to make ProCap a SPAC, which have historically seen high failure rates due to sponsor conflicts, dilution, speculative valuations and regulatory scrutiny.<br \/>\nPompliano said SPACs have gotten a bad reputation because companies often treat them like public venture capital, targeting high-growth companies that are losing a lot of money at high valuations.<br \/>\nPompliano noted he has put \u201cmillions of dollars\u201d of his own money on the line.<br \/>\n\u201cWe\u2019ve got real skin in the game,\u201d Pompliano said, adding: \u201cI\u2019m taking a huge reputation risk.\u201d<br \/>\nBrent Saunders, CEO of health products firm Bausch + Lomb, also joined as a strategic adviser. Saunders completed over $300 billion worth of mergers and acquisitions over the last 17 years.<br \/>\nMagazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee<a href=\"https:\/\/cointelegraph.com\/news\/anthony-pompliano-spac-rises-7-percent-nasdaq-upsized-ipo?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsCrypto influencer Anthony Pompliano\u2019s fintech-focused blank-check company, ProCap Acquisition Corp (PCAPU), rose 7% on its debut Nasdaq listing after a last-minute upsizing of its initial public offering. ProCap&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129752"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129752"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129752\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129752"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}