Foley Trasimene Acquisition II, the fourth blank check company formed by financial services veteran Bill Foley, raised $1.3 billion by offering 130 million units at $10. The company offered 10 million more units than anticipated. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. The company may raise an additional $150 million at the closing of an acquisition pursuant to a forward purchase agreement with Cannae Holdings (NYSE: CNNE).
To screen for upcoming or past SPAC IPOs, sign up for a free trial of IPO Pro.
The company is led by Chairman Bill Foley, who is currently the Chairman of Fidelity National Financial (NYSE: FNF), Black Knight (NYSE: BKI), and Cannae Holdings, and is a Senior Managing Director of Trasimene Capital Management. CEO Richard Massey serves as the CEO of Cannae Holdings and a Senior Managing Director of Trasimene Capital Management as well.
Foley Trasimene Acquisition II plans to list on the NYSE under the symbol BFT.U. Credit Suisse and BofA Securities acted as lead managers on the deal.
