FinTech Evolution Acquisition Group Announces Closing of Underwriters’ Option to Purchase Additional Units in Connection wi...
11 3월 2021 - 6:26AM
FinTech Evolution Acquisition Group (the “Company”) today announced
that it closed the issuance of an additional 3,410,158 units
pursuant to the exercise of the underwriters’ option to purchase
additional units in connection with its initial public offering at
$10.00 per unit, resulting in gross proceeds of $34,101,580 and
bringing the total gross proceeds of the initial public offering to
$274,101,580.
The Company is a blank check company formed for the purpose of
effecting a merger, share exchange, asset acquisition, share
purchase, reorganization or similar business combination with one
or more businesses. While the Company may pursue an initial
business combination target in any business or industry, it intends
to focus its efforts on Financial Technology and technology-enabled
services (“FinTech”) businesses that offer specific technology
solutions, broader technology software, or services/products to the
financial services industry.
UBS Investment Bank acted as the sole book-running manager of
the offering.
The Company’s units are listed on The New York Stock Exchange
(the “NYSE”) and commenced trading on March 2, 2021 under the
ticker symbol “FTEV.U”. Each unit consists of one Class A ordinary
share and one-third of one redeemable warrant, each whole warrant
entitling the holder thereof to purchase one Class A ordinary share
at a price of $11.50 per share. Once the securities comprising the
units begin separate trading, the Class A ordinary shares and
warrants are expected to be listed on the NYSE under the symbols
“FTEV” and “FTEV WS” respectively.
Of the proceeds received from the consummation
of the initial public offering (as well as the exercise of the
option to purchase additional units) and related private placements
of warrants, $274,101,580 (or $10.00 per unit sold in the public
offering) was placed in trust. An audited balance sheet of the
Company as of March 4, 2021 reflecting receipt of the proceeds upon
consummation of the initial public offering and the concurrent
private placement (but not including the closing of the additional
units described herein or the private placement on such date) will
be included as an exhibit to a Current Report on Form 8-K to be
filed by the Company with the Securities and Exchange Commission
(the “SEC”).
A registration statement relating to these securities was
declared effective by the SEC on March 1, 2021. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of these securities in
any state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
The offering was made by means of a prospectus. Copies of the
prospectus relating to this offering may be obtained from UBS
Securities LLC, Attn: Prospectus Department, 1285 Avenue of the
Americas, New York, NY 10019, or by telephone at (888) 827-7275, or
by e-mail at olprospectusrequest@ubs.com.
Cautionary Note Concerning Forward-Looking
Statements
This press release contains statements that constitute
“forward-looking statements,” including with respect to the
Company’s search for an initial business combination.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company’s registration
statement for the initial public offering filed with the SEC.
Copies are available on the SEC’s website, www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
Contact Rohit
Bhagat650.739.6741rohit@fintechevolution.net
FinTech Evolution Acquis... (NYSE:FTEV.U)
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