Former NYSE President’s blank check Far Point Acquisition files for a $400 million IPO

Far Point Acquisition, a blank check company formed by former NYSE Group President Tom Farley and Third Point to acquire a fintech business, filed on Tuesday with the SEC for an initial public offering.

The Wilmington, DE-based company plans to raise $400 million by offering 40 million units at $10 per unit. At that price, Far Point Acquisition would command a market value of $500 million. Each unit consists of one share of our common stock and one-third of one warrant redeemable at $11.50.

The Wilmington, DE-based company was formed in 2018 and plans to list its units on the NYSE under the symbol FPAC.U. Credit Suisse and BofA Merrill Lynch are the joint bookrunners on the deal. IPO timing has not been determined.

The article Former NYSE President’s blank check Far Point Acquisition files for a $400 million IPO originally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital’s research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital’s Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

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