Cantor Equity Partners, the latest blank check company formed by Cantor Fitzgerald, raised $100 million by offering 10 million shares at $10, as expected. Unlike most SPACs, the offering did not contain warrants or rights. The trust is funded at $10 per share.
The SPAC is led by CEO and Chairman Howard Lutnick, the CEO and Chairman of Cantor. He is joined by CFO Jane Novak, the Global Head of Accounting Policy at Cantor. It plans to leverage management's experience to target businesses in the financial services, healthcare, real estate services, technology, and software industries.
Cantor has backed several past SPACs. The most recent include CF Acquisition VII (CFFSU), which went public in late 2021 and is still searching for a target; CF Acquisition VIII, which merged with process automation firm XBP Europe (XBP) in November 2023; CF Acquisition VI, which merged with video platform Rumble (RUM) in September 2022; and CF Acquisition V, which merged with satellite data company Satellogic (SATL) in January 2022.
The New York, NY-based company plans to list on the Nasdaq under the symbol CEP. Cantor Fitzgerald acted as sole bookrunner on the deal.
