Cohen Circle Acquisition I, a blank check company led by SPAC veteran Betsy Cohen targeting fintech, filed on Friday with the SEC to raise up to $200 million in an initial public offering.
The Philadelphia, PA-based company plans to raise $200 million by offering 20 million units at $10. Each unit contains one share of common stock, and one-third of a warrant. At the proposed deal size, Cohen Circle Acquisition I would command a market cap of $276 million.
The SPAC is set to be led by CEO and Chairman Betsy Cohen, the General Partner of Cohen Circle FinTech Ventures and Radiate Capital Fund, as well as CFO R. Maxwell Smeal, the CFO of Cohen Circle. Betsy Cohen has previously led several SPACs, including FTAC Olympus Acquisition, which merged with Payoneer (Nasdaq: PAYO), and of FTAC Athena Acquisition and FTAC Hera Acquisition, which both liquidated.
The Philadelphia, PA-based company was founded in 2021 and plans to list on the Nasdaq under the symbol CCIRU. Cohen Circle Acquisition I filed confidentially on November 26, 2021. Cantor Fitzgerald is the sole bookrunner on the deal.
