Cantor Equity Partners (CEP) is a SPAC — a blank check company with no operations — formed to find and acquire a private company and take it public through a business combination. CEP raised $100M in its August 2024 IPO, and those proceeds are held in a Trust Account invested in U.S. government securities or money market funds while CEP searches for a target. CEP has until August 14, 2026 to complete a deal; if it fails, it liquidates and returns trust funds to public shareholders at approximately $10.35/share. CEP is affiliated with Cantor Fitzgerald, and its management team consists of Brandon Lutnick (Chairman and CEO) and Jane Novak (CFO), both Cantor employees. CEP is targeting companies in financial services, healthcare, real estate, technology, and software. CEP itself generates no revenue. The Cantor-affiliated sponsor received "Founder Shares" at roughly $0.01/share, representing 20% of post-IPO shares outstanding — shares that are worthless if no deal closes but highly valuable if one does, creating a strong incentive to complete a transaction. CEP acknowledges a conflict of interest inherent in this structure: the sponsor could profit even on a deal that turns out poorly for public shareholders.