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Cantor Equity Partners Inc. (CEP) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's status as a blank check company, incorporated for the purpose of effecting a business combination. The company is focusing its search on industries such as financial services, healthcare, real estate services, technology, and software.
The company completed its Initial Public Offering on August 14, 2024, raising $100 million through the sale of 10 million Class A ordinary shares at $10 per share. An additional $3 million was raised through a private placement with the sponsor.
As of December 31, 2024, the company held approximately $101.98 million in a trust account, primarily in U.S. government securities. These funds are intended to be used for a business combination.
The company has until August 14, 2026, to complete a business combination. If unsuccessful, it will cease operations and liquidate the trust account, returning funds to public shareholders.
The company reported a net income of approximately $1.54 million for the year ended December 31, 2024, primarily from interest income on the trust account.
Operating expenses included approximately $298,000 in general and administrative costs and $46,000 in administrative expenses paid to the sponsor.
The company's management team includes Brandon Lutnick as Chairman and CEO, and Jane Novak as CFO, with a board consisting of both independent and affiliated directors.
The filing notes the company's status as an emerging growth company, allowing it to take advantage of reduced reporting requirements under the JOBS Act.
The company has engaged Cantor Fitzgerald & Co. as an advisor for its business combination efforts and has agreed to pay a $3.5 million marketing fee upon consummation of a business combination.
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 Inc. annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.