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.
