Far Peak Acquisition Corporation, a SPAC formed by Tom Farley, the Former NYSE President, raised gross proceeds of $550 million in an initial public offering (IPO) this week. Shares are trading under ticker symbol FPAC.U.
Previously, Farley’s earlier SPAC went public in June 2018 and completed its acquisition of Swiss fintech Global Blue in August 2020.
This newest SPAC is seeking a target in the Fintech sector. According to the S-1 filing:
“With increased adoption of Fintech solutions by both customers and businesses, we believe that the sector is poised for continued growth in both overall market size and penetration. We do not intend to limit our search to one segment of the Fintech ecosystem, but will instead target a wide variety of companies that deliver a technology solution to the financial services end-market, inclusive of both consumer and back-office services. We believe that our extensive experience and demonstrated success in both investing and operating businesses in this industry has culminated in a unique set of capabilities that will be utilized in generating shareholder returns.”
On another note, Farley visited the virtual studio of CNBC this week sharing his experience of dealing with COVID earlier this year. Farley shared that he had a fever of 102 to 103.5 for 15 days straight and was bedridden for another week. He also said he lost 25 pounds.
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