FinTech Acquisition Corp. II (NASDAQ:FNTEU), a blank-check company formed for the purpose of acquiring or merging with one or more businesses or entities in the financial technology industry, announced on Thursday it completed its initial public offering (IPO) of 17.5 million units at a price of $10 per unit, which includes 2.2 million units issued pursuant to the underwriters’ over-allotment option, for gross proceeds to the Company of $175 million.
The company revealed that its units began trading last Friday (January 20th) on the Nasdaq Capital Market under the symbol “FNTEU” and each unit issued in the offering consists of one share of the Company’s common stock and one-half of one warrant, each whole warrant exercisable for one share of common stock at an exercise price of $11.50 per share. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.
Cantor Fitzgerald & Co. notably served as the sole book-running manager and Northland Capital Markets served as co-manager for the offering.