Advisory firm Perella Weinberg Partners today announced the expiration and results of its warrant exchange offer, following the June completion of its merger with FinTech Acquisition IV. The offer and consent solicitation expired yesterday.
The company said 7,389,511 warrants, or approximately 96.39% of warrants outstanding, and 96,959 private placement warrants (approximately 47.68% of the outstanding private placement warrants), were tendered. Holders will receive 0.20 shares of Class A stock in exchange for each warrant tendered. The company expects settlement by Aug. 23.
The cash component of the firm’s deal with the SPAC was 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. Read more.
