The Anthony Poseliano Procap recently shared an update on its progress and evaluation measures. Procap concluded a combination of companies of $ 1 billion with Columbus Circle Capital Corp 1 (CCCM).
As part of the agreement, Procap has raised more than $ 750 million and has already deployed more than $ 500 million to buy Bitcoin
Amount a treasure of 4,950 BTC. This is ProCap, the 13th largest public Bitcoin holder in the world.
The data and the analysis presented by Poseliano come directly from Procap and refer to the implicit value of the multiple implicit assets (Mnav) bonuses.
According to the analysis of ProCap, the actions of the company are currently negotiated at the lowest implicit MNAV premium among a group of Bitcoin cash companies, at 1.3x, compared to peers like Cantor Equity Partners (Porcini) at 2.2x. This low MNAV multiple suggests that Procap BTC LLC could be undervalued compared to other Bitcoin cash companies.
An important characteristic of the combination of companies proposed is the right to take over for the shareholders of the CCCM. Investors who hold CCCM shares on the date of registration of the special meeting to approve the combination of companies will have the right to buy their actions against money owned in trust.
Since the closing of the initial public offer of the CCCM in May, this pro-rata trust value should be around $ 10 per share. The maximum loss for investors is around 55 cents per share if the trustee value is held at around $ 10 according to Poseliano.
However, if implicit Mnav Premium increases to correspond to that of Cantor Equity Partners (2.2x)The post-deal equity rate could reach around $ 17.82 per share.
Read more: Anthony Poselian Procap BTC buys $ 128 million Bitcoin in the 2nd consecutive day of purchases
