Crypto influencer 'Pomp' seeks $200M in IPO

Crypto influencer 'Pomp' seeks $200M in IPO
Anthony Pompliano's blank check company intends to list on the Nasdaq.
MAY 01, 2025
By  Bloomberg

by David Morris

A blank-check company led by Anthony Pompliano, a cryptocurrency influencer, podcaster and investor, has filed for an initial public offering to raise $200 million.

Pompliano will be chief executive officer of ProCap Acquisition Corp., according to a filing Wednesday with the US Securities and Exchange Commission. Brent Saunders, chairman and CEO of Bausch + Lomb Corp., is serving as special adviser to the firm.

Pompliano has been the CEO of Professional Capital Management, an investment firm he founded, since January 2022. He was a co-founder and managing partner at Full Tilt Capital from 2016 until it was acquired by Morgan Creek Digital Assets in 2018, and worked there until 2020, the filing said.

Pompliano, who has 1.7 million followers on X and writes a daily newsletter for more than 260,000 readers, is the sole managing member of the SPAC’s sponsor, according to the filing. 

The company is seeking to list on the Nasdaq Global Market and is working with BTIG on the listing, the filing shows.

Special purpose acquisition vehicles are publicly-traded investment vehicles that use their cash holdings to acquire private companies and bring them into the public markets. These deals have continued to move ahead even as conventional IPO activity has stalled as a result of volatility stemming from the tariff-driven trade war.

Though ProCap may pursue a merger in any sector, the filing says it initially intends to focus on areas where the management team has experience including digital assets, fintech, asset management, and consumer and health-care industries. 

The filing comes as companies increasingly turn to equity capital markets to raise funds for investing in cryptocurrencies, following in the footsteps of Michael Saylor’s Strategy. 

In March, GameStop Corp. said it would borrow $1.3 billion via convertible bonds to fund Bitcoin purchases.  

More recently, shares of a Cantor Fitzgerald LP-affiliated blank-check vehicle soared after it announced that it would merge with Twenty One Capital Inc., a firm backed by stablecoin issuer Tether Holdings SA, its affiliate Bitfinex and SoftBank Group Corp. The unit plans to launch with more than 42,000 Bitcoin and will be led by Jack Mallers, the founder and CEO of Strike, a digital-payments provider on Bitcoin’s Lightning Network, who will continue in that role.

 

Copyright Bloomberg News

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.