IPOs

Cantor Fitzgerald's SPAC, CF Finance Acquisition II, prices $500 million IPO at $10

CF Finance Acquisition II, the second blank check company formed by Cantor Fitzgerald, raised $500 million by offering 50 million units at $10. The SPAC originally filed to offer 52.5 million units, and downsized its offering by about 5%. Each unit consists of one share of common stock and one-third of a warrant, exercisable $11.50. 

The company is led by CEO and Chairman Howard Lutnick, the CEO and Chairman of Cantor. 

Cantor's previous SPAC CF Finance Acquisition (CFFA; +4% from $10 offer price) went public in December 2018 and recently announced a merger agreement with alternative asset management firm GCM Grosvenor.

CF Finance Acquisition II plans to list on the Nasdaq under the symbol CFIIU. Cantor Fitzgerald acted as lead manager on the deal.

The article Cantor Fitzgerald's SPAC, CF Finance Acquisition II, prices $500 million IPO at $10 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's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts 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.

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