SPAC and fintech to raise $220 million
Post-IPO the company will list on Nasdaq under the ticker NFINU
Netfin Acquisition Corp filed with the SEC to raise $220 million in an initial public offering (IPO).
Based in New York, Netfin is a SPAC and fintech.
[A SPAC is a listed special purpose acquisition company that issues capital via an IPO to acquire other companies]
Fintech targets?
The company is run by finance professionals who are evidently looking for acquisitions in the high-growth fintech industry.
The IPO will comprise 22 million units each of $10. A unit contains one share of common stock and one warrant that will entitle the holder to purchase another share at $11.50 per share.
Latest Alternative Investment News
Digital Assets: Tether Invests In CityPay, A Georgian Payments Processor
Tether Operations Limited (Tether), the company behind the widely used stablecoin USDT, has announced an increased presence in Georgia with an investment in CityPay.io, a payment processing company operating in…
Venture Capital: Carbon Removal Platform CUR8 Scores £5.3M (US$6.6M) Pre-Seed Funding
CUR8 is a company founded by Marta Krupinska, Dr Gabrielle Walker, and Mark Stevenson, with the aim of becoming the market maker for carbon removals. The company recognizes the importance…
FinTech: Saudi Central Bank (SAMA) Boosts FinTech, Issues BNPL Licenses
The Central Bank of Saudi Arabia, known as SAMA, has granted Riyadh start-up Madfu and Spotii, which is owned by Zip, licenses to offer Buy Now Pay Later (BNPL) services….
Artificial Intelligence: Tech Luminaries Issue Letter Warning Of Extinction Risk From AI
Prominent computer scientists and tech CEOs have issued a warning about the potential “risk of extinction” posed by artificial intelligence (AI). They stress the importance of addressing this risk globally,…