FinTech Acquisition IV, the fifth blank check company formed by management of The Bancorp to acquire a fintech business, raised $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 at $11.50.
The company is led by Chairman Betsy Cohen, the founder and former CEO of The Bancorp, and CEO Daniel Cohen, the Chairman of The Bancorp and former CEO of Bancorp Bank. The company plans to target businesses providing technological services to the financial services industry, with particular emphasis on businesses that provide data processing, storage and transmission services, data bases and payment processing services.
FinTech Acquisition IV plans to list on the Nasdaq under the symbol FTIVU. Cantor Fitzgerald and Wells Fargo Securities acted as lead managers on the deal.
