Cantor Equity Partners II, the eleventh blank check company formed by Cantor Fitzgerald, raised $240 million by offering 24 million shares at $10. The company offered 4 million more shares than anticipated. The offering did not contain warrants.
Cantor Equity Partners II is led by CEO and Chairman Brandon Lutnick, who was recently appointed as the CEO of Cantor, succeeding his father, Howard Lutnick. He is joined by CFO Jane Novak, the Global Head of Accounting Policy at Cantor. The SPAC 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 other SPACs. The most recent to complete mergers include CF Acquisition VIII, which merged with process automation firm XBP Europe (Nasdaq: XBP; -88% from $10 offer price) in November 2023, and CF Acquisition VI, which merged with video platform Rumble (Nasdaq: RUM; -22%) in September 2022. Another recent venture, Cantor Equity Partners (CEP) announced in April that it planned to merge with Bitcoin investment vehicle Twenty One Capital; it last closed up 400%.
Cantor Equity Partners II plans to list on the Nasdaq under the symbol CEPT. Cantor Fitzgerald acted as sole bookrunner on the deal.
