Israeli fintech-focused Finnovate Acquisition priced its IPO of 15 million units at $10 each. Units list on the Nasdaq under FNVTU and are expected to begin trading today. Each consists of one share and three-quarters of a warrant.
When the securities begin separate trading, stock and warrants are expected to list under FNVT and FNVTW.
The new SPAC will focus on companies that provide technological services to the financial services industry and are domiciled in Israel, carry out all or a substantial portion of their activities in Israel, or that have some other significant Israeli connection.
The offering is expected to close Nov. 8.
EarlyBirdCapital is sole book-running manager for the offering. The underwriters may opt to purchase up to an additional 2.25 million units to cover any over-allotments. Read more.
