Securitize SPAC Deal Nears Close With Low Redemption Rate

Securitize is days away from a public listing that would put a tokenization platform on the NYSE with roughly $400 million in gross funding. The SPAC merger with Cantor Equity Partners II faces a shareholder vote June 29, with trading under the SECZ ticker expected July 2.

Less than 30% of CEPT's Class A stockholders exercised redemption rights, according to recent filings. That keeps most of the SPAC's trust cash in the deal. The $400 million figure includes a concurrent private placement but excludes transaction expenses.

Securitize currently manages about $4 billion in tokenized real-world assets. Its infrastructure supports investment products from BlackRock, Apollo, BNY, Hamilton Lane, KKR and VanEck. The platform handles issuance, transfer agency, fund administration and secondary trading under a single regulated structure.

The company operates a U.S. broker-dealer, securities transfer agent, registered investment adviser and fund administrator. Its European arm runs under the EU's DLT Pilot Regime.

Citigroup is advising Securitize on the deal. Cantor Fitzgerald advises CEPT. Both firms also coordinated the private placement.

The low redemption rate matters because SPAC deals often see 50% or more of trust cash pulled before close. A sub-30% exit keeps the merged entity with enough capital to scale its tokenization business without an immediate follow-on raise.

Securitize and CEPT announced the merger agreement Oct. 28. CEPT is a Cantor Fitzgerald-affiliated blank-check company. The combined entity will operate as Securitize Corp.

Securitize SPAC Deal Clears Hurdle With Low Redemption Rate

Securitize eyes $400 million with SPAC merger ahead of NYSE listing