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.
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