According to an S-1 filing with the Securities and Exchange Commission, Victory Park is seeking $225 million in the initial public offering of VPC Impact Acquisition Holdings II. VPC II is looking for another Fintech to acquire and turn into a publicly-traded firm.
VPC previously sponsored VPC Impact Acquisition Holdings which completed a $207 million initial public offering in September 2020. On January 11, 2021, VPC Impact I announced it had entered into a definitive agreement to combine with Bakkt Holdings, LLC, a digital asset exchange created by the Intercontinental Exchange, Inc. (ICE).
VPC explains its mission:
“We intend to identify high growth Fintech acquisition targets by leveraging the expertise of our management team and VPC. VPC maintains robust proprietary deal sourcing channels and industry-leading relationships across the international Fintech landscape. VPC is well-positioned as a partner for both venture capital firms, international finance organizations and Fintech companies.”
The SPAC expects to issue 22,500,000 units, at $10.00 per unit, each unit consisting of: one Class A ordinary share; and one-fourth of one redeemable warrant. Shares are expected to trade on the NASDAQ under the ticker of VIHBU and the warrants: VIHBW.