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Blank check Crescent Funding postpones $250 million IPO

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Crescent Funding, a blank check company formed by Crescent Capital to acquire a financial services business, postponed its IPO on Friday. It had filed to raise $250 million by offering 25 million units at a price of $10. Each unit would have consisted of one share of common stock and one-half of one warrant exercisable at $11.50.

The Los Angeles, CA-based company was formed in 2017 and had planned to list on the Nasdaq under the symbol CFUNU. UBS Investment Bank, BofA Merrill Lynch and Stifel were set to be the joint bookrunners on the deal.

The article Blank check Crescent Funding postpones $250 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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