PANews reported on October 29th that, according to The Block, Securitize has become the latest crypto-native company to announce plans for an IPO, with a pre-IPO equity valuation of $1.25 billion. The asset tokenization giant plans to list in the US through a special purpose acquisition company (SPAC) launched by an affiliate of Cantor Fitzgerald. The merged company will be renamed Securitize Corp. and will trade on Nasdaq under the ticker symbol SECZ. The company also plans to tokenize its own equity.

The company stated that, as part of its public offering process, Securitize also plans to raise a total of $469 million in proceeds to “strengthen the company’s balance sheet” and accelerate its business roadmap. This funding comes partly from a fully committed $225 million private equity investment public offering (PIPE) that attracted new investors including Arche, Borderless Capital, Hanwha Investment & Securities, InterVest, and ParaFi Capital. Citigroup and Cantor will act as joint placement agents for the PIPE transaction. Securitize announced that existing shareholders, including ARK Invest, BlackRock, Blockchain Capital, Hamilton Lane, Jump Crypto, and Morgan Stanley Investment Management, will transfer 100% of their equity to the merged company.