Another Day, Another SPAC: Motive Files for $300 Million IPO for Fintech Focused Blank Check Company

Motive Capital Corp has filed a Form S-1 registration statement with the Securities and Exchange Commission (SEC) for an initial public offering (IPO) of 30,000,000 units at a price of $10.00 per unit, consisting of Class A Ordinary Share of the Company, and one-third of one redeemable warrant. Each whole warrant entitles the holder to one Ordinary Share of the Company at a price of $11.50 per share. Motive intends on listing on the New York Stock Exchange under the symbol “MOTV.U.”

Motive is a blank check company incorporated in September 2020 as a Cayman Islands exempted company. According to the filing, Motive intends to focus on a target in the Fintech sector. To quote the document:

“We expect to focus primarily on companies that serve five primary sub-sectors of our market segment: Banking & Payments, Capital Markets, Data & Analytics, Insurance, and Investment Management. We seek financial technology companies in these sub-sectors that exhibit infrastructure-like characteristics and are strategically important to their customers. Furthermore, we believe that Motive’s fully integrated platform comprising (1) investment expertise, (2) industry perspective and operating skillset, and (3) technological and innovation capabilities, has the potential to radically change the trajectory of such companies.”

Motive Capital Corp was founded by its sponsor, an affiliate of Motive Partners, a specialist private equity firm with $1.1 billion in assets under management. Motive Partners is led by  Executive Chairman, Rob Heyvaert.

 

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