Fintech-focused Insight Acquisition registered to offer 24 million units at $10 each. A unit consists of one share of Class A common stock and one-half of one redeemable warrant; whole warrants exercisable at $11.50 for a share.
The SPAC will seek to identify Fintech targets with an enterprise value of approximately $750 million to $1.5 billion.
Insight Acquisition is led by Executive Chairman Michael Singer, who is managing partner of Alternative Insight, an investment management company.
Cantor is sole book-runner on the deal. Odeon is co-manager of the offering. The underwriters have an over-allotment option to purchase up to 3.6 million additional units.
The SPAC intends to apply for a NYSE listing under INAQ.U. Read more.
