Tokenization giant Securitize to go public via $1.25 billion SPAC deal
Tokenization firm Securitize announced plans to go public through a $1.25 billion SPAC deal with an affiliate of Cantor Fitzgerald.Summary
Tokenization leader Securitize is planning to become a publicly traded company via a special purpose acquisition company (SPAC) sponsored by a Cantor Fitzgerald affiliate, valuing the combined entity at a $1.25 billion pre-money equity valuation. The combined company will be renamed Securitize Corp. and trade on Nasdaq under the ticker SECZ, with plans to tokenize its own equity. CEO Carlos Domingo stated this move is a defining moment for democratizing capital markets through tokenization. Securitize, founded in 2017, is a key player in the sector, notably issuing BlackRock’s BUIDL fund, which surpassed $1 billion. The firm has tokenized over $4 billion in assets and estimates a $19 trillion tokenization opportunity across various asset classes. As part of the listing, Securitize plans to raise $469 million in gross proceeds, including $225 million from a Private Investment in Public Equity (PIPE) transaction involving investors like Arche and ParaFi Capital. Existing major shareholders, including ARK Invest and BlackRock, will roll 100% of their interests into the new company.
(Source：The Block)