Portage Fintech Acquisition registered with the SEC to offer 20 million units at $10 each. A unit consists of one Class A ordinary share and one-third of one redeemable warrant, with whole warrants exercisable at $11.50 for one share.
Goldman Sachs, BTIG, Scotiabank and SoFi are joint book-running managers of the offering.The underwriters have a 45-day option to purchase up to 3 million additional units to cover any over-allotments.
The fintech-focused SPAC will target key verticals such as Wealth and Asset Management, Consumer and SME Finance, Insurance, Payments, Information Services and FinTech Infrastructure.
Portage Fintech is led by CEO Adam Felesky, who is based in Toronto. He is also executive chairman of KOHO Financial, and a director at Wealthsimple Financial, Borrowell, HD Insurance, Socotra, and Alpaca.
The SPAC intends to apply for a Nasdaq listing under PFTAU. Read more.
