FG New America Acquisition II in a letter to the SEC said it is withdrawing an offering of 22.5 million units initally registered with the regulator in February 2021.
The SPAC had planned to target a business in the financial services and insurance industry with an enterprise value of approximately $500 million to $2 billion, with emphasis on FinTech and InsureTech companies.
FG New America II is led by Chairman and Director Joseph Moglia, the former CEO and chairman of TD Ameritrade, chairman of Fundamental Global Investors and Capital Wealth Advisors and Chair of Athletics and Executive Advisor to the president at Coastal Carolina University.
The SPAC had intended to list on the NYSE with ThinkEquity tapped as sole book-running manager. Read more.
