Crypto influencer Anthony Pompliano’s fintech-focused blank-check company, ProCap Acquisition Corp (PCAPU), rose 7% on its debut Nasdaq 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 $10.70, which continued with a 1.6% bump after-hours to $10.87, Yahoo Finance data shows.
PCAPU’s share price closed up 7% on its debut trading day. Source: Yahoo Finance
The 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