Cantor Equity Partners (CEP) raised $100 million on Monday night, Aug. 12, 2024, by pricing its stock-only SPAC IPO in sync with the terms in the prospectus: 10.0 million Class A ordinary shares at $10.00 each. Cantor was the sole book-runner.
Cantor Equity Partners’ stock started trading at $10.01 – up 1 penny – at 10:49 a.m. EDT today – Tuesday, Aug. 13, 2024 – on volume of 245,000 shares on the NASDAQ, according to NASDAQ’s records. Shares of Cantor Equity Partners hit an intraday high at $10.03 at about 11:21 a.m. and then gave up some ground to trade at around $10.01 at midday. On its first day of NASDAQ trading, Cantor Equity Partners’ stock closed at $10.01.
The stock-only structure of Cantor Equity Partners’ SPAC IPO is unusual. Most SPAC IPOs are unit offerings consisting of stock and warrants or stock and rights – or some combination of those elements.
At pricing, Cantor Equity Partners became the third SPAC IPO priced so far in August 2024, the 23rd SPAC IPO priced so far in 2024, and more significantly, the fifth SPAC IPO to make its trading debut so far in August 2024. IPOScoop ranks SPAC IPOs by trading date in its statistics, although the data also notes pricing dates.
New York-based Cantor Equity Partners said its search for an acquisition target will not be limited to any particular industry or geographic reason, although it will include these areas where its management team has expertise – financial services, healthcare, real estate services, technology and software, according to the prospectus.
Howard W. Lutnick is the chairman and CEO of Cantor Equity Partners. He joined Cantor in 1983. Lutnick has served as president and CEO of Cantor since 1992 and as chairman since 1996, the prospectus said.
Jane Novak is the CFO of Cantor Equity Partners. She joined Cantor in October 2017 and since then, she has served as the global head of accounting policy.
Over $1 Billion Raised By SPAC IPOs in August
Five SPAC IPOs have raised a combined $1.22 billion and started trading in August 2024 so far. Two of those SPAC IPOs were priced on Wednesday night, July 31, 2024, and began trading on Aug. 1, 2024.
Here are the five SPAC IPOs with August 2024 trading debuts:
*M3-Brigade Acquisition V Corp. (MBAVU) – Priced July 31st, Started Trading Aug. 1st – raised $250.0 million – NASDAQ – Cantor
*AA Mission Acquisition Corp. (AAM.U) – Priced July 31st, Started Trading Aug. 1st – raised $300.0 million – NYSE – Clear Street
*EQV Ventures Acquisition Corp.(EQV.U) – Priced Aug. 6th, Started Trading Aug. 7th – raised $350.0 million – NYSE – BTIG
*Voyager Acquisition Corp.(VACHU) – Priced Aug. 8th, Started Trading Aug. 9th – raised $220.0 million – NASDAQ – Cantor
*Cantor Equity Partners (CEP) – Priced Aug. 12th, Starts Trading Aug. 13th -raised $100.0 Million – NASDAQ – Cantor
Stay tuned.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.)
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