STOCK TITAN

Blockchain Capital takes 6% Securitize (SECZ) stake via SPAC-style merger

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13D

Rhea-AI Filing Summary

Blockchain Capital-affiliated funds have disclosed a 6.0% beneficial stake in Securitize Corp. following a business combination. The reporting group holds 9,831,423 shares of common stock, based on 163,218,683 shares outstanding as of July 1, 2026.

The position was received as consideration in a merger involving Cantor Equity Partners II, Securitize, Inc. and related entities, using an exchange ratio of approximately 4.4439454 Securitize shares for each former Securitize, Inc. share or equity award. The securities are subject to lock-up agreements for 180 days from closing, with one-third of the restricted shares eligible for early release if the volume-weighted average price exceeds $15.00, $17.50 and $20.00 for at least 20 of 30 consecutive trading days starting 90 days after closing. Blockchain Capital principals Brad and P. Bartlett Stephens may be deemed to share voting and dispositive power over these holdings.

Positive

  • None.

Negative

  • None.
Beneficial ownership 9,831,423 shares Aggregate Securitize common stock reported by Blockchain Capital group
Ownership percentage 6.0% of class Beneficial stake in Securitize common stock as of July 1, 2026
Shares outstanding 163,218,683 shares Securitize common stock deemed outstanding as of July 1, 2026
Exchange ratio 4.4439454 shares Securitize Corp. equity received per share or award of Old Securitize
Fund III Digital stake 1,613,818 shares Common stock held by Blockchain Capital III Digital Liquid Venture Fund, LP
Fund IV stake 6,848,022 shares Common stock held by Blockchain Capital IV, LP
Parallel IV stake 1,369,583 shares Common stock held by Blockchain Capital Parallel IV, LP
Lock-up duration 180 days Period after closing during which restricted Securitize shares are locked up
Schedule 13D regulatory
"This is being filed by the undersigned, pursuant to Rule 13d-1(a) under the Act"
A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.
Business Combination financial
"The securities reported herein were received as consideration in connection with a Business Combination"
A business combination happens when two or more companies join together to operate as one, like two friends merging their teams into a single group. This is important because it can change how companies grow, compete, and make money, often making them bigger and more powerful in the market.
Lock-Up Agreements financial
"entered into Lock-Up Agreements with Issuer, pursuant to which such parties agreed that the shares"
A lock-up agreement is a contract that prevents company insiders—founders, employees, and early investors—from selling their shares for a set period after a public stock offering. It matters to investors because it keeps a large block of shares off the market temporarily; when the lock-up ends, those holders can sell and this increased supply can cause the stock price to fall, similar to a timed release that suddenly opens a valve.
Amended and Restated Registration Rights Agreement regulatory
"entered into the Amended and Restated Registration Rights Agreement (the "Restated Registration Rights Agreement")"
volume-weighted average price (VWAP) financial
"early-release in the event the VWAP of the Common Stock exceeds $15.00, $17.50 and $20.00"
Volume-weighted average price (VWAP) is the average price of a security over a trading period where each trade’s price is weighted by how many shares were traded, so larger trades pull the average more than tiny ones. Investors and traders use VWAP as a benchmark to judge whether a trade was executed at a favorable price—similar to checking whether you paid more or less than the typical price when most people were buying or selling.
shelf registration statement regulatory
"file with the SEC a shelf registration statement"
A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.
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FAQ

What stake in Securitize Corp. (SECZ) did Blockchain Capital report on Schedule 13D?

Blockchain Capital-affiliated entities reported beneficial ownership of 9,831,423 Securitize common shares, representing 6.0% of the outstanding stock. This percentage is based on 163,218,683 shares outstanding as of July 1, 2026, according to Securitize’s Form 8-K.

How did Blockchain Capital acquire its Securitize (SECZ) shares?

The reporting entities acquired their Securitize shares as consideration in a Business Combination completed on July 1, 2026. Former Securitize, Inc. equity was exchanged into Securitize Corp. stock under a merger agreement involving Cantor Equity Partners II and multiple merger subsidiaries.

What exchange ratio applied in the Securitize Corp. (SECZ) Business Combination?

Each share and equity award of Old Securitize converted into Securitize Corp. equity at an exchange ratio of approximately 4.4439454. This ratio determined how many Securitize Corp. common shares the Blockchain Capital funds received for their prior preferred and common stock and related awards.

Which Securitize (SECZ) lock-up terms apply to Blockchain Capital’s shares?

Blockchain Capital is subject to Lock-Up Agreements that restrict transfers of received Securitize shares for 180 days from the closing date. One-third of these restricted securities can be released early if VWAP price hurdles of $15.00, $17.50 and $20.00 are met for defined trading periods.

Do Blockchain Capital and its principals have registration rights in Securitize (SECZ)?

Yes. The reporting parties are part of an Amended and Restated Registration Rights Agreement that provides shelf registration and demand and piggyback rights. Securitize must file a shelf registration statement after the Business Combination, with the company bearing related registration expenses.

Who may exercise voting and dispositive power over Blockchain Capital’s Securitize (SECZ) holdings?

Voting and dispositive power over the reported Securitize shares flows through the Blockchain Capital funds, their general partners, and Blockchain Capital, LLCBrad Stephens and P. Bartlett Stephens, who may be deemed to share indirect control over these securities.





81517B101

(CUSIP Number)
W. Bradford Stephens
600 Montgomery St, Fl 35,
San Francisco, CA, 94111
415-677-5340

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
07/01/2026

(Date of Event Which Requires Filing of This Statement)


If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).




schemaVersion:


SCHEDULE 13D




Comment for Type of Reporting Person:
(1) Percentage is calculated based on 163,218,683 shares of Common Stock deemed to be outstanding as of July 1, 2026, as reported on the Issuer's Current Report on Form 8-K, filed on July 8, 2026.


SCHEDULE 13D




Comment for Type of Reporting Person:
(1) Consists of the shares held by Blockchain Capital III Digital Liquid Venture Fund, LP for which BC III DLVF GP, LLC is the general partner. (2) Percentage is calculated based on 163,218,683 shares of Common Stock deemed to be outstanding as of July 1, 2026, as reported on the Issuer's Current Report on Form 8-K, filed on July 8, 2026.


SCHEDULE 13D




Comment for Type of Reporting Person:
(1) Percentage is calculated based on 163,218,683 shares of Common Stock deemed to be outstanding as of July 1, 2026, as reported on the Issuer's Current Report on Form 8-K, filed on July 8, 2026


SCHEDULE 13D




Comment for Type of Reporting Person:
(1) Percentage is calculated based on 163,218,683 shares of Common Stock deemed to be outstanding as of July 1, 2026, as reported on the Issuer's Current Report on Form 8-K, filed on July 8, 2026.


SCHEDULE 13D




Comment for Type of Reporting Person:
(1) Consists of 6,848,022 shares of common stock held by Blockchain Capital IV, LP and 1,369,583 shares of common stock held by Blockchain Capital Parallel IV, LP, for which Blockchain Capital IV GP, LLC is the general partner. (2) Percentage is calculated based on 163,218,683 shares of Common Stock deemed to be outstanding as of July 1, 2026, as reported on the Issuer's Current Report on Form 8-K, filed on July 8, 2026


SCHEDULE 13D




Comment for Type of Reporting Person:
(1) Includes: (a) 1,613,818 shares of common stock held by Blockchain Capital III Digital Liquid Venture Fund, LP, (b) 6,848,022 shares of common stock held by Blockchain Capital IV, LP and (c) 1,369,583 shares of common stock held by Blockchain Capital Parallel IV, LP (Blockchain Capital III Digital Liquid Venture Fund, LP, Blockchain Capital IV, LP and Blockchain Capital Parallel IV, LP, collectively the "Blockchain Capital Funds"). The general partner of each of the Blockchain Capital Funds is BC III DLVF GP, LLC or Blockchain Capital IV GP, LLC, as applicable (the "Blockchain GP Entities"). The managing member of each Blockchain GP Entity is Blockchain Capital, LLC. (2) Percentage is calculated based on 163,218,683 shares of Common Stock deemed to be outstanding as of July 1, 2026, as reported on the Issuer's Current Report on Form 8-K, filed on July 8, 2026.


SCHEDULE 13D




Comment for Type of Reporting Person:
(1) Includes: (a) 1,613,818 shares of common stock held by Blockchain Capital III Digital Liquid Venture Fund, LP, (b) 6,848,022 shares of common stock held by Blockchain Capital IV, LP and (c) 1,369,583 shares of common stock held by Blockchain Capital Parallel IV, LP (Blockchain Capital III Digital Liquid Venture Fund, LP, Blockchain Capital IV, LP and Blockchain Capital Parallel IV, LP, collectively the "Blockchain Capital Funds"). The general partner of each of the Blockchain Capital Funds is BC III DLVF GP, LLC or Blockchain Capital IV GP, LLC, as applicable (the "Blockchain GP Entities"). The managing member of each Blockchain GP Entity is Blockchain Capital, LLC. Blockchain Capital, LLC is jointly managed by Brad Stephens and P. Bartlett Stephens, who share voting and dispositive power with respect to the securities held by the Blockchain Capital Funds. Accordingly, Messrs. Stephens may be deemed to have indirect voting and dispositive power over the securities held by the Blockchain Capital Funds. (2) Percentage is calculated based on 163,218,683 shares of Common Stock deemed to be outstanding as of July 1, 2026, as reported on the Issuer's Current Report on Form 8-K, filed on July 8, 2026.


SCHEDULE 13D




Comment for Type of Reporting Person:
(1) Includes: (a) 1,613,818 shares of common stock held by Blockchain Capital III Digital Liquid Venture Fund, LP, (b) 6,848,022 shares of common stock held by Blockchain Capital IV, LP and (c) 1,369,583 shares of common stock held by Blockchain Capital Parallel IV, LP (Blockchain Capital III Digital Liquid Venture Fund, LP, Blockchain Capital IV, LP and Blockchain Capital Parallel IV, LP, collectively the "Blockchain Capital Funds"). The general partner of each of the Blockchain Capital Funds is BC III DLVF GP, LLC or Blockchain Capital IV GP, LLC, as applicable (the "Blockchain GP Entities"). The managing member of each Blockchain GP Entity is Blockchain Capital, LLC. Blockchain Capital, LLC is jointly managed by Brad Stephens and P. Bartlett Stephens, who share voting and dispositive power with respect to the securities held by the Blockchain Capital Funds. Accordingly, Messrs. Stephens may be deemed to have indirect voting and dispositive power over the securities held by the Blockchain Capital Funds. (2) Percentage is calculated based on 163,218,683 shares of Common Stock deemed to be outstanding as of July 1, 2026, as reported on the Issuer's Current Report on Form 8-K, filed on July 8, 2026.


SCHEDULE 13D


Blockchain Capital III Digital Liquid Venture Fund, LP
Signature:/s/ W. Bradford Stephens
Name/Title:W. Bradford Stephens, Managing Partner of Blockchain Capital, LLC
Date:07/09/2026
BC III DLVF GP, LLC
Signature:/s/ W. Bradford Stephens
Name/Title:W. Bradford Stephens, Managing Partner of Blockchain Capital, LLC
Date:07/09/2026
Blockchain Capital IV, LP
Signature:/s/ W. Bradford Stephens
Name/Title:W. Bradford Stephens, Managing Partner of Blockchain Capital, LLC
Date:07/09/2026
Blockchain Capital Parallel IV, LP
Signature:/s/ W. Bradford Stephens
Name/Title:W. Bradford Stephens, Managing Partner of Blockchain Capital, LLC
Date:07/09/2026
Blockchain Capital IV GP, LLC
Signature:/s/ W. Bradford Stephens
Name/Title:W. Bradford Stephens, Managing Partner of Blockchain Capital, LLC
Date:07/09/2026
Blockchain Capital, LLC
Signature:/s/ W. Bradford Stephens
Name/Title:W. Bradford Stephens, Managing Partner
Date:07/09/2026
W. Bradford Stephens
Signature:/s/ W. Bradford Stephens
Name/Title:W. Bradford Stephens
Date:07/09/2026
P. Bartlett Stephens
Signature:/s/ P. Bartlett Stephens
Name/Title:P. Bartlett Stephens
Date:07/09/2026