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Cantor Equity Partners I Inc. (CEPO+0.19%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports that Cantor Equity Partners I Inc. is a blank check company incorporated in the Cayman Islands on November 11, 2020, for the purpose of effecting a business combination. The company is focusing its search on companies in the financial services, healthcare, real estate services, technology, and software industries.
Cantor Equity Partners I Inc. completed its initial public offering on January 8, 2025, issuing 20,000,000 Class A ordinary shares at $10.00 per share, generating gross proceeds of $200,000,000. Simultaneously, the company completed a private placement of 500,000 Class A ordinary shares to the sponsor, generating gross proceeds of $5,000,000.
The proceeds from the offering and private placement were placed in a trust account, which is invested in U.S. government securities or held as cash, to be used for the purpose of completing a business combination.
Cantor Equity Partners I Inc. has until January 8, 2027, to complete a business combination. If unable to do so, the company will redeem all public shares and liquidate.
As of December 31, 2024, Cantor Equity Partners I Inc. reported a net loss of approximately $84,000, primarily due to general and administrative expenses.
The company has engaged Cantor Fitzgerald & Co. as an advisor for its business combination efforts and will pay a $7,000,000 fee upon consummation of a business combination.
Cantor Equity Partners I Inc. has identified its Chairman and Chief Executive Officer, Brandon Lutnick, as the chief operating decision maker, and the company consists of one reportable segment.
The company is classified as an emerging growth company and a smaller reporting company, which allows it to take advantage of reduced reporting requirements.
Cantor Equity Partners I Inc. acknowledges potential risks, including competition in finding a suitable target for a business combination and the impact of geopolitical conditions such as the conflicts in Ukraine and the Middle East.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Cantor Equity Partners I Inc. annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.