FinServ Acquisition II priced its upsized IPO of 26.5 million units at $10 each. The SPAC offered 1.5 million more units than originally anticipated.
Units begin trading today on the Nasdaq under FSRXU. Each consists of one share of Class A common stock and one-quarter of one redeemable warrant, each whole warrant entitling the holder to purchase a share of Class A common stock at $11.50. Once the securities comprising the units begin separate trading, shares and warrants are expected to list under FSRX and FSRXW, respectively. The offering is expected to close Feb. 22.
The SPAC plans to target businesses in the FinTech and financial services industries with an equity value of approximately $500 million to $2.0 billion, with particular emphasis on businesses that are using technology to disrupt traditional financial services, asset management and related services. Read more.
