Fintech-Focused FTAC Parnassus Files for $220M IPO


FTAC Parnassus Acquisition filed with the SEC to offer 22 million units at $10 each.

Each unit consists of one share of Class A common stock and one-fourth of a warrant. Each whole warrant is exercisable at $11.50 to purchase one whole share of Class A common stock.

The SPAC said in the filing it will concentrate on financial services, real estate, insurance, ecommerce and related technology infrastructure sectors.

FTAC Parnassus is led by Chairman Daniel Cohen, who is also chairman of INSU III, and he has served as chairman of INSU II, which is in a pending merger with insurance platform Metromile.

The SPAC plans a Nasdaq listing, but has not yet selected a trading symbol. Read more

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