Securitize targets $400 million raise ahead of NYSE debut
RWA & Tokenization ·
The BlackRock-backed tokenization firm expects to close a SPAC merger with a Cantor Fitzgerald-backed entity next week, listing on the NYSE under the ticker SECZ.
Securitize expects to raise roughly $400 million in gross proceeds, including PIPE financing, as it moves toward a public listing through a merger with Cantor Equity Partners II. The company said the figure reflects lower-than-expected shareholder redemptions ahead of the deal's close. CEPT shares rose 8% following the announcement.
The transaction is scheduled to close on July 1, pending shareholder approval on June 29 and other customary conditions. The combined company is expected to begin trading on the New York Stock Exchange the following day under the ticker SECZ.
Securitize has positioned itself as infrastructure for Wall Street's move into tokenized securities, working with asset managers including Apollo, KKR, Hamilton Lane and VanEck to issue blockchain-based versions of traditional investment products. Earlier this year the firm began helping the New York Stock Exchange build its own tokenized securities platform, a role detailed separately by cryptopotato.com and decrypt.co, which described deepening ties between the exchange and the tokenization sector.
The listing comes as the market for tokenized real-world assets, excluding stablecoins, has grown to more than $30 billion, according to rwa.xyz figures cited alongside the deal. Boston Consulting Group and Ripple project that figure could reach $18.9 trillion by 2033. CEO Carlos Domingo said tokenization has moved from a theoretical concept, when the company started more than eight years ago, to something now entering the mainstream.
What remains unresolved is the outcome of the June 29 shareholder vote and whether the merger closes as scheduled on July 1, with NYSE trading under SECZ set to begin the day after. Separate reporting in the same cluster indicates the merger has since completed and that Securitize has cleared SEC registration steps tied to the listing, though the timing and sequence of those milestones relative to the original close date are not detailed here.