Cantor Equity Partners II, Inc.
CEPT · Nasdaq
NO ACTION REQUIRED
Nothing left to do
The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
In plain terms
- What it is
- A SPAC from Cantor Fitzgerald (Brandon Lutnick), listed on Nasdaq in May 2025.
- What it's doing now
- It agreed to buy Securitize Holdings, Inc.. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
- What you should know
- This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.
At a glance
- Where it stands
- Closed (deSPAC)
- The business it bought
- Securitize Holdings, Inc.
- Industry
- the deal record does not name the target's industry yet
- Deal value
- not stated in the filings we hold
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 2 May 2025
- size not on file · 100.0% of each $10 unit into trust
- Headquarters
- 110 EAST 59TH STREET, NEW YORK, NY, 10022
- registered in the Cayman Islands
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Salinas Danny (Director) · Novak Jane (Chief Financial Officer) · Prasad Mukesh (Director)
- Listed securities
- CEPT common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
- 28.51% of the public shares were handed back at the 29 June vote — the holders who wanted cash rather than shares in the new company took it then.
What has happened, and what is coming
4 dated milestonesEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
28.5% of the public float took the cash
Show the earlier 1 milestone
- 2 May 2025IPOpassed
IPO size not on file
Presentations
archived in fullEvery investor deck this SPAC has filed, kept slide by slide, with the SEC original beside it.
Investor presentations · archived in full
The deal
terms as filedWhat it is buying, on what terms, and how much of the combined company new shares take from you.
- closedSEC primary
What Securitize Holdings, Inc. does — read from securitize.io on 26 August 2026
Securitize is described as the leader in real-world asset tokenization, bridging traditional finance and DeFi with institutional-grade infrastructure. It operates as a SEC-Registered Transfer Agent and SIPC & FINRA Member, offering services such as Tokenization as a Service, Fund Administration, and Digital Asset Reporting for enterprises.
Real-world asset tokenizationInstitutional financeDeFiFund AdministrationDigital Asset ReportingDeal structureSEC-primary — BCA 8-K / S-4 / DEFM14A- PIPE
- ≈ $225M · unsourced
PIPE terms — instrument, coupon, conversion price and any reset floor — are not sourced for this deal. The size above is itself unsourced — a stored figure no filing we hold states — so neither the size nor the terms should be read as cited.
stated in:0001213900-26-065822
Who has already taken their money back
1 filed eventEach time shareholders were offered their cash back, some took it. Heavy cash-outs drain the account and shrink the number of shares left — whatever remains has to carry the deal.
Worst single event
28.51%
of the public float walked at a single vote
Shares redeemed, all events
6.84M
≈29% of the earliest known float
Every figure below is stated in the linked filing; nothing here is estimated.
- Jun 29, 2026Deal vote28.51%
The score
deterministic, from filed fieldsCEPT is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 292 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
The second Cantor Fitzgerald SPAC led by Brandon Lutnick, listed on Nasdaq. In October 2025 it agreed to combine with Securitize, Inc.; shareholders approved on 29 June 2026 — holders of about 6.8 million shares redeemed rather than stay in — and the deal closed on 1 July 2026. Investors who had committed $225 million of PIPE financing actually delivered $197 million, a $27.7 million shortfall. The combined company, Securitize Holdings, trades on the NYSE as SECZ; this SPAC is delisted and its story is complete.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
deSPAC completion — CEPT no longer exists as a SPAC; the $28 million PIPE shortfall (19.735M of 22.5M shares) plus 6.84 million redemptions cut the cash actually delivered to Securitize.
Securitize (tokenized real-world-asset infrastructure) is cleared to go public via CEPT with roughly 17.2 million public shares still in trust after a moderate ~28% redemption, and the Sponsor's $0.15 per share top-up shows the sponsor paying to hold redemptions down.
The no-redemption sources and uses table sets the deal at $1,765,140,236: a Securitize equity rollover of $1,256,902,231 at a deemed $10.00 per share, $248,753,188 of CEPT trust cash, $225,000,000 of PIPE proceeds and a $20,000,000 private placement, against $448,544,054 to the balance sheet and $58,995,951 of estimated transaction expenses. The PIPE is 22,500,000 CEPT Class A ordinary shares at $10.00, and investors may satisfy it by buying CEPT Class A shares on the open market. The Sponsor surrenders up to 30% of its Class B shares for no consideration.
S-4 effectiveness plus a fixed June 29, 2026 vote date set the final timetable for the CEPT/Securitize deSPAC and opened CEPT's redemption window.
This is the target's actual P&L ahead of the CEPT vote: revenue is growing fast but adjusted EBITDA collapsed roughly 80% year over year and the company is loss-making at $7.9 million per quarter, so the growth story is being funded, not self-financed. The NYSE and Computershare partnerships are the concrete institutional distribution wins underpinning the valuation.
First public disclosure of Securitize's audited-basis financials — a company doing $18.8 million of 2024 revenue merging into a roughly $250 million trust — the key valuation datapoint for the CEPT deal.
Show 5 more material filings
First detailed management presentation of the CEPT/Securitize target, including the claim of 9x revenue growth and two profitable quarters — rare positive operating metrics for a deSPAC target in the digital-asset space.
Formal 8-K announcement of the definitive Securitize business combination agreement, the event that starts the deal clock for CEPT.
This is the definitive BCA for the Securitize deSPAC, the primary source for earnout thresholds, PIPE mechanics and trust-release terms; the dedicated tokenization covenant signals the parties contemplated tokenizing PubCo's own shares.
Baseline trust of $10.21 per share on a ~$245 million trust for the SPAC that later signed the Securitize deal, with essentially no operating cash outside trust and, unusually, no deferred underwriting liability.
Establishes CEPT's $240M trust and $10.15 per-share redemption value against a 24.0M Class A / 6.0M Class B structure with essentially no liabilities — the NAV baseline for this Cantor shell.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
What changed: Cantor Equity Partners II closed its business combination with Securitize, Inc. on July 1, 2026 under the October 27, 2025 Business Combination Agreement: CEPT merged into Pinecrest Merger Sub, becoming a wholly owned subsidiary of Securitize Holdings, Inc. Holders of 6,842,508 CEPT ordinary shares redeemed. Only 19,735,000 of the committed 22,500,000 PIPE shares were issued at $10.00, funding $197 million of the $225 million PIPE. Nasdaq trading was suspended July 2, 2026 with a Form 25 requested and a Form 15 to follow; Pubco common stock began trading on the NYSE as SECZ on July 2, 2026. Brandon G. Lutnick (Chairman/CEO), Jane Novak (CFO) and directors Salinas, Sharp, Zurita and Prasad all ceased their roles. Why it matters: deSPAC completion — CEPT no longer exists as a SPAC; the $28 million PIPE shortfall (19.735M of 22.5M shares) plus 6.84 million redemptions cut the cash actually delivered to Securitize.
Show the other 10 filings
What changed: Cantor Equity Partners II, Inc. (CEPT) reported that at its June 29, 2026 extraordinary general meeting shareholders approved the business combination with Securitize, Inc. under the October 27, 2025 Business Combination Agreement (CEPT merges into Pinecrest Merger Sub, then Senna Merger Sub merges into Securitize, with Securitize Holdings, Inc. as PubCo). The Business Combination Proposal passed 12,432,037 for / 2,151,147 against / 197,157 abstain out of 30,580,000 shares outstanding on the May 11, 2026 record date. The Nasdaq Proposal approved issuing up to 22,500,000 CEPT Class A shares in a private placement immediately prior to the merger, up to 535,000 shares to repay the Sponsor Loan and Sponsor Note, up to 156,675,245 PubCo shares in the Mergers (including 6,250,000 Securitize earnout shares), a 10% incentive plan/ESPP reserve, and up to 3,829,432 shares on warrants held by J Digital 6 LLC. Holders of 6,842,508 Class A shares redeemed, removing approximately $72.5 million from trust at approximately $10.60 per share (inclusive of $0.15 per share funded by the Sponsor under the Sponsor Note), leaving 17,157,492 public shares outstanding. Why it matters: Securitize (tokenized real-world-asset infrastructure) is cleared to go public via CEPT with roughly 17.2 million public shares still in trust after a moderate ~28% redemption, and the Sponsor's $0.15 per share top-up shows the sponsor paying to hold redemptions down.
What changed: Securitize Holdings filed as Rule 425 material a June 12, 2026 Securitize press release announcing that its tokenized AAA CLO fund (STAC), built with BNY as custodian and sub-adviser, expanded to Solana and that Ethena Labs plans a $250 million allocation. The release reiterates that the CEPT shareholder meeting on the October 27, 2025 business combination is set for June 29, 2026 with an expected NYSE listing as SECZ. Why it matters: Target-company product marketing during the proxy period; no change to deal terms, trust, or timing.
What changed: Securitize and Cantor Equity Partners II announced on June 5, 2026 that the SEC declared the Form S-4 registration statement effective. The business combination was to be voted on by CEPT shareholders of record as of May 11, 2026 at a special meeting scheduled for June 29, 2026, with closing expected shortly thereafter and the combined company, Securitize Corp., listing on the NYSE as SECZ. Why it matters: S-4 effectiveness plus a fixed June 29, 2026 vote date set the final timetable for the CEPT/Securitize deSPAC and opened CEPT's redemption window.
What changed: DEFM14A — Cantor Equity Partners II, Inc.'s definitive proxy statement and Securitize Holdings, Inc.'s prospectus for up to 24,000,000 shares of common stock, for an extraordinary general meeting on June 29, 2026. The Business Combination Agreement and the Sponsor Support Agreement with Cantor EP Holdings II, LLC are dated October 27, 2025. Securitize shares, options and warrants convert into PubCo common stock at the Securitize Exchange Ratio; the assumed warrants are stated at an aggregate price of $38,294,325, $10.00 per warrant. Why it matters: The no-redemption sources and uses table sets the deal at $1,765,140,236: a Securitize equity rollover of $1,256,902,231 at a deemed $10.00 per share, $248,753,188 of CEPT trust cash, $225,000,000 of PIPE proceeds and a $20,000,000 private placement, against $448,544,054 to the balance sheet and $58,995,951 of estimated transaction expenses. The PIPE is 22,500,000 CEPT Class A ordinary shares at $10.00, and investors may satisfy it by buying CEPT Class A shares on the open market. The Sponsor surrenders up to 30% of its Class B shares for no consideration.
minimum cash condition, pipenothing moved · 2 with no prior record of ours
- Minimum cash condition
- not previously extracted$100.0M
- PIPE
- not previously extracted$100.0M
SpacBrain reads this as the min-cash condition binds at $100,000,000.
The clause …“with the terms of the Business Combination Agreement being no less than the minimum cash amount of $100,000,000. Conditions to Obligations of CEPT ( subject to written waiver by CEPT where permissible ) The obligations of CEPT to”…
The clause …“the delivery of ancillary agreements at the Closing and (iv) at least $100 million of PIPE Investments having been funded (or deemed funded, in accordance with the terms of the PIPE Subscription Agreements). For more information”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: 425 filed by Securitize Holdings, Inc. carrying Securitize, Inc.'s 1Q26 results (quarter ended March 31, 2026) in connection with the October 27, 2025 Business Combination Agreement among Cantor Equity Partners II, Inc. (CEPT), Securitize, Inc., Securitize Holdings, Inc. (Pubco), Pinecrest Merger Sub and Senna Merger Sub. Total revenue was $19.5 million, up 39% year over year and the highest quarterly revenue in company history; adjusted EBITDA fell to $0.8 million from $4.1 million a year earlier; net loss was $7.9 million, or $0.88 per diluted share. Average AUM was $3.2 billion with AUM of $3.4 billion and AUA of $24.9 billion at March 31, 2026, aggregated transaction volume was $1.9 billion, and 650 active funds were serviced. Business highlights include being named NYSE's design partner and first digital transfer agent eligible to mint blockchain-native securities on the planned NYSE-affiliated Digital Trading Platform, a Uniswap Labs integration for BlackRock's BUIDL, tokenizing loan interests tied to the Trump International Hotel Resort Maldives, and a post-quarter Computershare agreement. Why it matters: This is the target's actual P&L ahead of the CEPT vote: revenue is growing fast but adjusted EBITDA collapsed roughly 80% year over year and the company is loss-making at $7.9 million per quarter, so the growth story is being funded, not self-financed. The NYSE and Computershare partnerships are the concrete institutional distribution wins underpinning the valuation.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
Post-close outcome quality: 5 priced deSPACs vs trust value (prior vehicles against the $10.00 IPO baseline, in-DB vehicles against the trust they filed): median -42%, 3/5 still worth at least half of trust, 2 at under a tenth of it. Worst: LIDR -100%. Best: GCMG +39%. 1 more delisted with no surviving quote — scored as a total loss (a known outcome, not a gap), with no % invented. 7 other completion(s) not priced (7 no stored price) — left OUT of the ratio, not guessed.
Mixed record · high confidence
- CF Finance Acquisition Corp I · 2018→ GCM GrosvenorGCMGCompleted
- CF Finance Acquisition Corp II · 2020→ View IncCompleted
- CF Finance Acquisition Corp III · 2020→ AEyeLIDRCompleted
- CF Acquisition Corp VIII · 2021→ XBP GlobalXBPCompleted
- CF Acquisition Corp V · 2021→ SatellogicSATLCompleted
- CF Acquisition Corp VI · 2021→ Rumble / RUM GroupRUMCompleted
- CF Acquisition Corp IV · 2020Liquidated
- CF Acquisition Corp VII · 2021Liquidated
Cantor Fitzgerald — SPAC franchise now led by Brandon Lutnick. Prior-vehicle track record (SEC-verified): (1) CF Finance Acquisition Corp I COMPLETED → GCM Grosvenor (GCMG, 2020; confirmed via joint 425). (2) CF Finance II COMPLETED → View Inc (2021; bankrupt, 25-NSE 2024-04). (3) CF Finance III COMPLETED → AEye (LIDR, Nasdaq). (4) CF Acquisition V COMPLETED → Satellogic (SATL, 2022; confirmed via joint 425). (5) CF Acquisition VI COMPLETED → Rumble, now RUM Group (RUM, Nasdaq). (6) CF Acquisition VIII COMPLETED → XBP Europe, now XBP Global (XBP, Nasdaq). LIQUIDATED (25-NSE + 15-12G): CF Acquisition IV (2023), CF Acquisition VII (2025). Net: 6 completed deSPACs, 2 liquidations (plus the current Cantor Equity Partners fleet). Mixed post-close (Rumble/AEye/XBP/GCM listed; View bankrupt, Satellogic weak). Sources: SEC EDGAR submissions API (formerNames) + full-text search, efts.sec.gov. — research profile — Cantor Fitzgerald's SPAC franchise is led by Brandon G. Lutnick, the 27-year-old Chairman and CEO of Cantor Fitzgerald, L.P., who assumed the role after his father, Howard Lutnick, was confirmed as the 41st U.S. Secretary of Commerce in 2025 and divested his ownership in the firm. Brandon Lutnick, a Stanford graduate who joined Cantor in 2022 in equity sales and trading after beginning his career as a credit analyst at Oak Hill Advisors, serves as Chairman and CEO across the firm's extensive series of blank-check vehicles. He is supported by CFO Jane Novak, the Global Head of Accounting Policy at Cantor, who has served as CFO or former CFO of several Cantor SPACs. His brother Kyle Lutnick serves as Executive Vice Chairman of the holding company. The family ownership transition was structured through trusts for the benefit of Brandon, Kyle, and other adult children, with Brandon as controlling trustee, and minority investments from 26North (founded by Josh Harris) and Glenn August of Oak Hill Advisors. Cantor Fitzgerald acts as sole bookrunner on all its SPAC IPOs, and the firm has formed at least sixteen blank-check companies to date, with vehicles including the Cantor Equity Partners series (CEPO through CAES) and earlier CF Acquisition vehicles. The sponsor's track record reveals a mixed to poor set of de-SPAC outcomes. Among completed mergers, CF Acquisition VIII merged with process automation firm XBP Europe (XBP), which traded 77% below the $10 offer price, and CF Acquisition VI merged with video platform Rumble (RUM) in 2022, down 26% from offer. Cantor Equity Partners merged with bitcoin investment vehicle Twenty One Capital (XXI); the stock initially surged 400% on the announcement but subsequently traded 32% to 40% below the $10 offer price. Cantor Equity Partners III merged with hookah products maker AIR Global (AIIR), which was down 32% from $10. More recently announced but not yet completed deals include Cantor Equity Partners I (CEPO) merging with Bitcoin Standard Treasury Company (BSTR), a bitcoin treasury vehicle involving Blockstream CEO Adam Back contributing up to 30,000 Bitcoin (approximately $3.5 billion) in a deal that could reach $4 billion with up to $800 million in outside capital, and Cantor Equity Partners II (CEPT) merging with asset tokenization platform Securitize. CEPO traded modestly above $10 at +6% and CEPT at +20% following their deal announcements. The firm has aggressively pivoted toward crypto-focused SPACs, with Brandon Lutnick championing what he describes as combining two volatile but compelling asset classes—crypto and SPACs—and the combined bitcoin purchases across BSTR Holdings and Twenty One Capital could approach $10 billion. The most significant red flag surrounding the Cantor SPAC operation is the potential for conflicts of interest arising from…
Full sponsor record →The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
from 424B4 0001213900-25-039125
Trading & liquidity
Company profile
Directors & officers
- Salinas DannyDirector
- Novak JaneChief Financial Officer
- Prasad MukeshDirector
- LUTNICK HOWARD W10% owner
- Lutnick BrandonChairman and CEO
- Sharp Robert GuyDirector
News
company wires and the financial pressReporting we have matched to this ticker. Headlines belong to the outlets that wrote them.
Show the headlines
- Securitize and Cantor Equity Partners II Business Combination Expected to Raise Approximately $400 Million in Gross Proceeds and Announce Expected Closing of Business Combination and NYSE Listing
PR Newswireundated by the source
- Securitize Raises $48 Million in Series B Capital to Expand its Leadership
PR Newswireundated by the source
- Securitize and Cantor Equity Partners II Announce Public Filing of Registration Statement on Form S-4
PR Newswireundated by the source
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
35 full SEC filing texts archived — searchable, never lost.
- Vault note — CEPT (Cantor Equity Partners II, Inc.)
vault-note · /vault/tickers/CEPT
- Vault deal note — Securitize Holdings, Inc. (CEPT)
vault-note · /vault/deals/securitize-holdings-inc
- Securitize, Inc. - Wikipedia
news · en.wikipedia.org
- Securitize and Cantor Equity Partners II Announce Public Filing of Registration Statement on Form S-4
news · prnewswire.com
- Securitize | Home page
company-site · securitize.io
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail8 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
EDGAR-verified 2026-08-13: CIK 0002034269 "Cantor Equity Partners II, Inc.", SIC 6770 Blank Checks, Cayman (E9). Ticker CEPT confirmed directly in EDGAR submissions ("tickers":["CEPT"]). Business Combination (PubCo + Securitize; PIPE subscription agreements dated 2025-10-27) CONSUMMATED: 8-K acc 0001213900-26-076435 filed 2026-07-08 reports Item 2.01 Completion of Acquisition and states CEPT notified Nasdaq on 2026-07-01 of consummation and requested trading suspension effective 2026-07-02. Form 25-NSE 2026-07-01 (acc 0001354457-26-000638); Form 15-12G 2026-07-13 (acc 0001213900-26-077580). NULLED unverifiable web-research price $12.62 dated 2026-08-10: CEPT stopped trading on Nasdaq 2026-07-02.
CLOSED status CONFIRMED from primary sources; no field change needed. Business Combination Agreement dated 2025-10-27 with Securitize, Inc. / Securitize Holdings, Inc. (PubCo) / Pinecrest Merger Sub / Senna Merger Sub. Shareholder EGM held 2026-06-29, all proposals approved (8-K Item 5.07 acc 0001213900-26-073134; 30,580,000 ordinary shares outstanding on the 2026-05-11 record date). CONSUMMATED 2026-07-01 (8-K Item 2.01 acc 0001213900-26-076435, filed 2026-07-08, signed by PINECREST MERGER SUB "as successor by merger to Cantor Equity Partners II, Inc."). Nasdaq notified 2026-07-01, trading in CEPT Class A ordinary shares suspended effective 2026-07-02; Form 25-NSE acc 0001354457-26-000638 (2026-07-01); Form 15-12G acc 0001213900-26-077580 (2026-07-13). PubCo common stock began trading on the NEW YORK STOCK EXCHANGE under "SECZ" on 2026-07-02. REDEMPTIONS: holders of 6,842,508 CEPT Ordinary Shares elected to redeem. PIPE SHORTFALL (record it): the 2025-10-27 PIPE Subscription Agreements committed 22,500,000 Class A shares at $10.00 = $225,000,000, but ONLY 19,735,000 shares were actually issued, for aggregate proceeds of $197,000,000 — a shortfall of 2,765,000 shares / $27,650,000 (12.3% of the committed PIPE). Same accession 0001213900-26-076435, Item 3.02. NOTE FOR THE DEALS LANE: no Deal row exists for CEPT; the Securitize deal (announced 2025-10-27, voted 2026-06-29, closed 2026-07-01, newTicker SECZ, pipeSizeM 197 funded of 225 committed) is unrecorded.
$0-TRUST TRAP — VERIFIED CLEAN, nothing to fix in this row: CEPT's FIRST 10-Q (acc 0001213900-25-054316, filed 2025-06-13) covers the quarterly period ended 2025-03-31, the PRE-IPO shell period — the balance sheet carries NO trust account and "As of both March 31, 2025 and December 31, 2024, there were no Class A ordinary shares issued and outstanding" — while the COVER (dated at filing, after the May 2025 IPO) shows 24,580,000 Class A shares. Any harvester pairing cover-page shares with balance-sheet trust reads $0 trust across 24.58M shares. CHECKED 2026-08-14: 0 TrustSnapshot rows for CEPT, Spac.trustPerShare NULL, price NULL — the $0 was never picked up. HANDOFF TO THE TRUST-BLITZ LANE (this lane does not write trust): real trust figures live in the LATEST 10-Q (acc 0001213900-26-053860, filed 2026-05-08, period ended 2026-03-31): available-for-sale debt securities held in Trust Account at fair value $248,753,164 (vs $246,617,353 at 2025-12-31); at IPO, "$240,000,000 ($10.00 per Public Share)" was placed in trust (per the first 10-Q's own IPO disclosure). Row is CLOSED (Securitize deal consummated 2026-07-01), so any trust value written should be flagged historic, not live.
[CLOSED-2.01] SEC accession 0001213900-26-076435 (Form 8-K, item 2.01 Completion of Acquisition or Disposition of Assets); the cover's date of earliest event reported is 2026-07-08. That is the SEC's own date for this report and NOT necessarily the closing day — an 8-K may cover several events, and where the two differ the closing date is in the quoted sentence below. Target read STRUCTURALLY from the merger agreement's party list — the party that is neither the registrant (identified by the filing's own cover page) nor a merger sub (identified by the clause making it a subsidiary of another party) nor an accommodation party (identified by a "solely for purposes of" joinder), and it was the only one left. The sentence it was read from: "The Business Combination was consummated in accordance with the terms of the Business Combination Agreement on July 1, 2026. As a result of the Business Combination, CEPT merged with and into CEPT Merger Sub and CEPT Merger Sub became the surviving company and wholly-owned subsidiary of Pubco." No deal value is set — an item-2.01 heading is not a figure. No date column is set: Deal has announcedAt, voteDate and expectedCloseAt and nowhere to record an actual close, so the SEC's date is kept here until that column exists. [DEAL-STRUCTURE-MINED] pipeSizeM=225 from primary filings (0001213900-26-065822).
entity created from the filed target name; no About paragraph on file, so every other field awaits a sourced read
pipeBasis set to UNSOURCED: the size came from the research seed / an earlier record and no filing we hold states it — surfaces now label it "unsourced"; an LLM re-read to FILED replaces this when credits allow
EGM 2026-06-29 approved the 2025-10-27 Business Combination Agreement with Securitize, Inc.; 6,842,508 shares redeemed in connection with the transaction.
Consummated 2026-07-01. Nasdaq suspension 2026-07-02, Form 25-NSE 0001354457-26-000638, Form 15-12G 0001213900-26-077580. PIPE funded 19,735,000 of 22,500,000 committed shares ($197M of $225M).