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C1 Fund Inc., a closed-end investment company, announced the pricing of its initial public offering of 6 million shares at $10.00 per share, according to a company statement. The underwriters have a 30-day option to purchase up to an additional 900,000 shares at the public offering price.
The shares are expected to begin trading on the New York Stock Exchange under the ticker symbol "CFND" on August 7, 2025. The offering is scheduled to close on August 8, 2025.
Net proceeds are estimated at approximately $55.1 million, or $63.4 million if underwriters exercise their full over-allotment option, after deducting underwriting discounts and offering expenses. The Fund plans to invest the net proceeds within three months, but no later than 12 months after closing.
The Benchmark Company, LLC serves as sole book-running manager, while SoFi (NASDAQ:SOFI) Securities LLC and China Renaissance Securities (Hong Kong) Limited act as co-managers for the offering.
Based in Palo Alto, California, C1 Fund is a Maryland corporation that will invest at least 80% of its assets in equity and equity-linked securities of companies in the digital assets services and technology sector. The Fund aims to invest in approximately 30 digital assets services and technology companies, excluding those principally administered in China, including Hong Kong and Macao.
C1 Advisors LLC will serve as the Fund’s investment adviser. The Fund’s investment objective is to maximize total return, principally through capital gains on equity and equity-related investments.
A registration statement on Form N-2 relating to the shares was declared effective by the Securities and Exchange Commission on August 6, 2025.