SPAC Fintech Acquisition Corp. IV Prices at $10/Share, Raises $200 Million

Fintech Acquisition Corp. IV (NASDAQ:FTIVU) a blank-check company that intends on acquiring one or more Fintech businesses, priced its initial public offering (IPO) at $10 a share raising gross proceeds of $200 million. Shares are expected to begin trading today (September 25, 2020) thus joining the growing legion of issuers in the red-hot SPAC market. The complete S-1 filing is available here.

The company intends to concentrate on businesses providing technological services to the financial services industry, with an emphasis on businesses that provide data processing, storage and transmission services, databases and payment processing services.

Management is affiliated with several prior SPACS (I -IV) including Fintech III that raised $345.0 million in its IPO in 2018. On August 3, 2020, Fintech III announced the signing of a definitive agreement to acquire Fintech Paya, Inc. which recently acquired The Payment Group.

Cantor Fitzgerald & Co. and Wells Fargo Securities, LLC are serving as joint book-running managers for the IPO. The company has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments.

Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!

Sponsored Links by DQ Promote


Send this to a friend