Bitcoin-native financial firm ProCap BTC and SPAC Columbus Circle Capital Corp. I raised $516.5 million in equity and $235 million in zero-coupon convertible bonds in a record-setting fundraise for a public Bitcoin treasury company.

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The deal represents the largest initial fundraise in history for a public Bitcoin treasury company, raising $516.5 million in equity and $235 million in convertible notes.

The firms raised $516.5 million in non-voting preferred units in a private placement, and the combined company has secured commitments for $235 million of zero-coupon convertible bonds, the statement showed.