ProCap Acquisition Corp, a fintech-focused SPAC led by Anthony Pompliano, made a strong entrance on the Nasdaq, rising 7% on its debut following an upsized initial public offering (IPO) of $220 million. Initially priced at $200 million, the IPO increased shortly before launch, offering 22 million shares at $10 each. On its first trading day, May 21, ProCap shares closed at $10.70, further increasing to $10.87 after-hours. Pompliano emphasized the company’s focus on investing in firms across financial services, digital assets, asset management, and healthcare, aiming to bridge traditional and crypto finance. He addressed common criticisms of SPACs, asserting the importance of genuine investor interest and significant personal investment in driving the company's success. Alongside Pompliano, Brent Saunders, CEO of Bausch + Lomb, is also involved with ProCap. Pompliano expressed that the convergence of old and new financial worlds necessitated this venture.

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