Securitize Goes Public on NYSE July 2 With $400M From SPAC Merger - "The Defiant"

Securitize, the tokenization platform behind BlackRock's BUIDL fund, will begin trading on the New York Stock Exchange on July 2 under the ticker SECZ after a SPAC merger that closed with more than $400 million in cash.

Securitize CEO Carlos Domingo confirmed the terms Friday morning on his personal X account. The deal ran through Cantor Equity Partners II, a special purpose acquisition company sponsored by Cantor Fitzgerald. Domingo said the company raised an oversubscribed $225 million private investment in public equity (PIPE), the largest PIPE for any operating business entering via a SPAC since 2021. Final redemptions came in below 30%, leaving the merged company with over $400 million in cash at listing. The Block reported Thursday morning that Securitize was set to raise approximately $400 million through the merger.

Domingo wrote that advisers had discouraged the SPAC route: "Don't do it, you won't raise a PIPE, and SPACs get on average 95% redemptions, and you will IPO with no cash." The oversubscribed PIPE and the sub-30% redemption rate produced the opposite result. Domingo's post calls July 2 "the next stage in Securitize history."

Securitize operates as a FINRA-approved broker-dealer with custody approval for tokenized securities and is the issuance platform for BlackRock's BUIDL fund, one of the largest tokenized money-market products on-chain. The company added secondary trading rails for tokenized equities earlier this year, tapping Jump Crypto and Jupiter for regulated on-chain execution. In June the firm issued the Hamilton Lane HLSCOPE private-credit fund on TRON as its first multi-chain institutional product beyond Ethereum.