Cryptocurrency entrepreneur Anthony Pompliano is reportedly in talks to launch a brand new Bitcoin-buying car that can search to boost $750 million.
Pompliano is anticipated to develop into CEO of ProCapBTC, a Particular Function Acquisition Firm (SPAC) that’s set to merge with the publicly traded clean cheque car Columbus Circle Capital 1, the Monetary Instances reported on June 13.
Underneath Pompliano’s management, which remains to be beneath dialogue, ProCapBTC would search to boost $500 million in fairness and $250 million in convertible debt as a part of a merger with Columbus Circle Capital 1, backed by the Cohen & Firm funding financial institution.
In accordance with the FT’s sources, the ProCapBTC deal may probably be introduced as quickly as subsequent week, however its phrases usually are not but finalized.
Main funding financial institution behind the deal
Columbus Circle Capital 1 is a clean examine firm shaped with the aim of effecting a merger, share change and buy, asset acquisition, reorganization or related enterprise mixture with a number of companies.
In Might 2025, Columbus Circle raised $250 million in an preliminary public providing sponsored by Cohen & Firm Capital Markets (CCM), a division of Cohen & Firm’s broker-dealer subsidiary, JVB Monetary Group.
Cohen & Firm is a publicly traded funding financial institution buying and selling on the New York Inventory Change, targeted on increasing the vary of capital markets and asset administration companies.
The financial institution has been energetic within the crypto and digital asset trade over the previous few years, offering audits, tax and advisory companies associated to crypto belongings, preliminary coin choices, decentralized finance, non-fungible tokens and digital asset exchanges.
Pompliano leads fintech-focused SPAC, ProCap Acquisition
The information follows Pompliano’s management of ProCap Acquisition, a fintech-focused SPAC that debuted on the Nasdaq in April.
ProCap’s shares (PCAPU) began buying and selling quickly after its upsized IPO closed on Might 21, elevating $250 million in gross proceeds by way of the sale of 25 million items at $10 per unit.
PCAPU shares have seen a notable spike in June, surging from $10.6 on June 1 to $11.4 on June 10. The inventory closed at $11.3 on June 13, in line with information from TradingView.
Pompliano didn’t affirm the reported SPAC merger on social media by publishing time. Cointelegraph approached Pompliano for remark relating to the merger however didn’t obtain a response on the time of publication.
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