Cantor Fitzgerald’s SPAC CF Finance III files for a $200 million IPO


CF Finance Acquisition III, a third blank check company formed by Cantor Fitzgerald, filed on Wednesday with the SEC to raise up to $200 million in an initial public offering.

The New York, NY-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable $11.50. The sponsor has agreed to purchase $5 million of units in a concurrent private placement. At the proposed price, CF Finance Acquisition III would command a market value of $255 million. 

The company is led by CEO and Chairman Howard Lutnick, the CEO and Chairman of Cantor President Anshu Jain, the President of Cantor; and CFO Paul Pion, the US Chief Administrative Officer and Senior Managing Director of Cantor Fitzgerald & Co. While the company has not selected a target industry or geography, it plans to leverage its management team’s experience in the financial services, healthcare, real estate services, technology, and software industries.

Cantor Fitzgerald’s previous SPACs include CF Finance Acquisition (CFFA; +3% from $10 offer price), which went public in December 2018 and is pending an acquisition of GCM Grosvenor, and CF Finance Acquisition II (CFIIU; -0.5%), which went public in August 2020. 

CF Finance Acquisition III was founded in 2016 and plans to list on the Nasdaq under the symbol CFACU. The SPAC filed confidentially on July 20, 2020. Cantor Fitzgerald is the sole bookrunner on the deal.

The article Cantor Fitzgerald’s SPAC CF Finance III files for a $200 million IPO originally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.

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