Securitize Set to List on NYSE in $400M SPAC Deal

Securitize, a Miami-based tokenization platform whose clients include BlackRock, is poised to become a public company as soon as next week through a merger with Cantor Equity Partners II, a Nasdaq-listed SPAC (ticker: CEPT). Shareholders are scheduled to vote on June 29. If approved, the combined company is expected to begin trading on the New York Stock Exchange under the ticker SECZ by July 1. The transaction implies a pre-money equity valuation of $1.25 billion for Securitize. The company is projected to receive about $400 million in gross proceeds. Redemptions reportedly came in below 30%, allowing Securitize to keep more than 70% of the SPAC's trust. Existing backers are rolling over 100% of their holdings, including BlackRock and ARK Invest. Securitize positions itself as a regulated platform for issuing, managing and trading tokenized securities. The firm is an SEC-registered transfer agent, a broker-dealer and an operator of an alternative trading system. It says it manages more than $4 billion in tokenized assets, with clients such as BlackRock, Apollo, KKR and VanEck. A flagship product is BlackRock's BUIDL tokenized money market fund. Regulatory milestones have continued this year. The SEC declared Securitize's S-4 filing effective on June 5, clearing the way for the merger. In May, FINRA approved the company for tokenized IPO underwriting and custody, extending its reach into primary capital markets. The tokenized real-world assets market has surpassed $30 billion excluding stablecoins. A public listing would give investors a liquid, NYSE-listed vehicle tied to the tokenization theme at a $1.25 billion valuation. Competitors include crypto-native players such as Ondo Finance and Maple Finance, though few are seen as matching Securitize's combination of regulatory licenses and institutional partnerships.