Anthony Pampino is taking its bitcoin-element-financial platform prokap BTC Public through a merger of $ 1 billion with the Columbus Circle Capital Corp I (CCCM), a special-purpose acquisition company (Spac), a special-revered acquisition company that is a collection of Cohen & Cohen & Company.
Lan -Deen, declared on Monday, is one of the largest bitcoin treasures ever to hit the new unit, prochap financial, ink., Public markets.
What is being said to raise the biggest initial money for a public bitcoin
Treasury company till date, Procap raised $ 550 million in preferred equity and gained $ 225 million in convertible notes, leading future shareholders to get immediate risk for bitcoin through a structure designed to acquire BTC before the deal was closed.
Under the leadership of a famous investor and vocal bitcoin advocate, Pompliano, PROCAP is aimed at working at the intersection of digital assets and traditional finance.
The company plans not only to catch the BTC and generate benefits, but actively deploy its bitcoin balance sheet in yield-generating strategies that reduce the risk and capitalize the crypto-financial infrastructure.
“Legacy financial system is being interrupted by bitcoin,” Pompliano said in a statement. “Prockap financially represents our solutions to the growing demand for bitcoin-origin financial services among finished sophisticated investors.”
Depending on the final bitcoin procurement price at the merger closing, the joint gives the importance of up to $ 1 billion to the joint unit. Prockap’s BTC assets will be detained until the transaction is completed, causing investors to come close to BTC exposure without waiting for the company to become public.
The transaction is expected to be closed before the end of 2025, the SEC review and shareholder approval pending.
The Financial Times earlier reported that PomPliano Procap was ready to become the CEO of BTC, and that the company was planning to raise $ 750 million to acquire bitcoins.
Read more: Anthony Pompliano set for $ 750m bitcoin investment vehicle: FT
