Tagged: spac

November 11, 2020 @ 8:39 am By JD Alois  |  

Italy’s first digital bank, illimity, is reporting a pre-tax profit for the third quarter of €13.2 million (+31% over the previous quarter) and a net profit of €24 million in the first nine months of 2020. This compares to a loss of €18 million in… Read More

September 29, 2020 @ 6:51 pm By JD Alois  |  

FinTech Acquisition Corp. IV (NASDAQ:FTIVU), a SPAC set up to acquire promising Fintech firms, has completed its initial public offering (IPO) of 23 million shares – including the 3 million over-allotment option. The company generated gross proceeds of $230 million in the offering. Each unit… Read More

September 26, 2020 @ 6:01 pm By Omar Faridi  |  

Mark Schwartz, MD at Ernst & Young Capital Advisors LLC, Equity Capital Markets Advisory, has explained how (special purpose acquisition company) SPAC mergers can help companies with accessing better financing deals or options. Schwartz noted that the growth of SPACs gives private business owners an… Read More

September 25, 2020 @ 8:37 am By JD Alois  |  

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… Read More

September 21, 2020 @ 12:04 pm By JD Alois  |  

Payments provider Paya has signed a definitive agreement to acquire The Payment Group (TPG). Details regarding the transaction were not disclosed. This is Paya’s second acquisition in the government and utilities integrated payments space. Paya is a portfolio company of GTCR and TPG is a… Read More

September 2, 2020 @ 8:57 am By Omar Faridi  |  

A new shell firm established by an experienced banking executive is expected to go public this coming week. The project’s founders plan to acquire a Fintech company in order to expand operations. The company’s management confirmed that the special purpose acquisition company (SPAC) will list… Read More

August 27, 2020 @ 8:15 am By JD Alois  |  

Property Solutions Acquisition Corp. (NASDAQ: PSACU) has announced that separate trading of its shares of common stock and warrants underlying the Company’s units would commence on August 28, 2020, on the NASDAQ. Property Solutions Acquisition Corp. is a blank check company seeking to effect a… Read More

July 19, 2020 @ 7:42 pm By JD Alois  |  

SPACs or special acquisition companies have emerged as a hot sector of finance. Recently, Bill Ackman’s Pershing Square announced a $4 billion initial public offering for a SPAC making it the largest ever for a blank check company. The SPAC is anticipated to have a… Read More

June 16, 2020 @ 10:20 am By JD Alois  |  

Illimity, the first digital bank in Italy, is now offering a “illimity Hubs,” described as an innovative collaboration model in line with open banking and an open platform approach. lllimity is a banking start-up specializing in loans to SMEs. Illimity provides a digital direct banking… Read More

June 11, 2020 @ 10:24 am By JD Alois  |  

Nebula Acquisition Corporation (NEBU), a special purpose acquisition company (SPAC) sponsored by True Wind Capital, has closed on its acquisition of Open Lending, a company that provides automated lending services to financial institutions. Open Lending specializes in loan analytics, risk-based pricing, risk modeling, and automated… Read More

December 2, 2019 @ 9:13 am By JD Alois  |  

The Securities and Exchange Commission (SEC) announced a significant review of the securities exemption ecosystem in June of this year. During the past few decades, the Commission, with some help from Congress, has updated and added to the many rules that regulate private securities offerings…. Read More

November 16, 2019 @ 8:41 am By JD Alois  |  

This conference is the premier event uniting the most active and influential participants in the SPAC market. Special purpose acquisition companies have gone through multiple cycles and structural changes over time, with the latest macro trend showing a big uptick in activity. M&A opportunities are… Read More

November 8, 2019 @ 2:43 pm By Omar Faridi  |  

FinServ Acquisition Corp. (NASDAQ:FISRVU)announced on November 5 that it had closed its initial public offering (IPO) of 25,000,000 units, which included 3,000,000 units issued “pursuant to the exercise by the underwriters of their over-allotment option.” The company’s offering was set at $10.00 per unit, which… Read More

July 10, 2019 @ 8:24 am By JD Alois  |  

Special purpose acquisition company (SPAC) 8i Enterprises Acquisition Corp. (NASDAQ: JFK) has entered into a definitive share exchange agreement with Diginex Limited. The deal claims to engender the largest publicly traded blockchain company in the US – once it closes. JFK is a BVI company… Read More