JOFF Fintech Acquisition priced its upsized IPO of 36 million units at $10 per unit. The upsize represents a 20 percent increase from the 30 million units initially planned for the offer.
Units begin trading today on the Nasdaq under JOFFU.
Each unit consists of one share of the Company’s Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder to purchase one share of the Company’s Class A common stock at a price of $11.50 per share.
Once the securities comprising the units begin separate trading, the stock and warrants are expected to list under JOFF and JOFFW, respectively. The offering is expected to close Feb. 9.
The SPAC intends to target fintech businesses with an enterprise value of approximately $700 million to $2 billion. Read more.
