Pompliano-led SPAC climbs 7% on Nasdaq debut after upsized $220 million IPO
ProCap Acquisition Corp, a blank-check firm led by Anthony Pompliano, saw its shares climb 7% on its Nasdaq debut on Wednesday following an upsized $220 million initial public offering.The special purpose acquisition company (SPAC) raised $220 million by offering 22 million shares at $10 each, up from its originally planned $200 million, according to the company's statement.Shares of ProCap, which trades under the ticker PCAPU, closed up 7% at $10.7 on Wednesday, with a further 1.6% gain in after-hours trading, according to Yahoo Finance data.In a revised prospectus filed May 13, the SPAC said it intends to pursue a business combination targeting companies in sectors such as financial services, asset management, digital assets, and healthcare. It noted that these sectors align with the expertise of its management team and board members.Anthony Pompliano, a crypto investor and media personality with 1.7 million X followers and 618,000 YouTube subscribers, serves as the company's chief executive officer and director of the board.In a Wednesday interview with CNBC, Pompliano said he had long wanted to take a company public but only saw sufficient market interest emerge about six months ago. He attributed the shift to recent regulatory developments in the U.S. financial landscape.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.