Titan Acquisition, a blank check company targeting finance and tech-enabled services, raised $240 million by offering 24 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
Titan Acquisition is led by CEO and Chairman Frank Mastrangelo, the founder and Managing Director of commerce and fintech-focused consulting firm Sapere Advisory, and CEO of PayAmigo. Mastrangelo previously was General Manager of banking services at Green Dot, and an executive at The Bancorp for over 15 years. The SPAC's CFO, President, and Director is Adeel Rouf, who most recently served as an Investment Professional at Cohen and Company Asset Management. Mastrangelo and Rouf both previously held various roles with other SPACs. Titan Acquisition plans to target the finance and tech-enabled services industry.
Based in Brooklyn, NY, Titan Acquisition plans to list on the Nasdaq under the symbol TACHU. Cantor Fitzgerald acted as sole bookrunner on the deal.
