INSUBCONTINENT EXCLUSIVE:
listing after a last-minute upsizing of its initial public offering.ProCap 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.ProCap shares closed the May 21 trading day up 7% at
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.ProCap 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
firm Professional Capital Management.Pompliano told CNBC on May 21 that he had been itching to take a company public over the last five
affecting financial markets.Related: Texas House passes strategic Bitcoin reserve billHe hinted that his blank-check firm would invest in
chose to make ProCap a SPAC, which have historically seen high failure rates due to sponsor conflicts, dilution, speculative valuations and
regulatory scrutiny.Pompliano said SPACs have gotten a bad reputation because companies often treat them like public venture capital,
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.Magazine: Danger signs for Bitcoin as retail
abandons it to institutions: Sky Wee
