FinTech Acquisition IV said its stockholders voted in favor of the business combination with Perella Weinberg Partners, a global independent advisory firm. Approximately 99.9% of the votes cast at the meeting, representing approximately 79.24% of FinTech IV’s outstanding shares, voted to approve the merger.
Announced in December, the cash component of the deal will be funded by FinTech IV’s $230 million in trust as well as a $125 million fully committed PIPE at $10 per share from institutional investors.
The transaction reflects an implied equity value for the company of approximately $975 million.
FinTech IV is chaired by Betsy Cohen, a long-time financial entrepreneur who founded The Bancorp.
The transaction is expected to close June 24.
The SPAC said no shares were redeemed ahead of the vote.
Upon closing, Perella Weinberg Partners will list on the Nasdaq under PWP. Read more.
