Bitcoin Bull Anthony Pompliano Launches SPAC Targeting Financial Services: ‘My Reputation’s On This’
Entrepreneur, investor and Bitcoin (CRYPTO: BTC) bull Anthony Pompliano has a new SPAC targeting the financial services sector and perhaps a company dealing with cryptocurrency.
While the SPAC could target the cryptocurrency space, Pompliano said that’s not a definite yes.
The SPAC: Pompliano took Pro Cap Acquisition (NASDAQ:PCAPU) public this week, a SPAC that raised $220 million in an upsized offering at $10 each.
Each SPAC includes one-third of a warrant, which will trade with ticker PCAPW. Common shares will trade as PCAP after the units split.
In an interview with CNBC Wednesday, Pompliano said the timing was right to launch his SPAC after being approached by investors for five years.
Pompliano said he didn’t see strong demand from the private market until six months ago and highlighted changing regulation as a reason to create the SPAC. The investor also said that there were a lot of good companies created between 2015 and 2020 that may be ready to go public.
The SPAC lists Pompliano as the CEO, director, and sole managing member of the sponsor ProCap Acquisition Sponsor, LLC.
Prior to his current role as founder and CEO of Professional Capital Management, Pompliano was the co-founder and managing partner of Full Tilt Capital, which was acquired by Morgan Creek Digital Assets in 2018.
Pompliano was also managing partner of Morgan Creek Digital Assets from 2018 to 2020. According to his website, he made notable investments in Lyft, Liquid Death, Placer.ai, Coinbase, SpaceX, Airbnb, Reddit, and eToro.
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