VPC Impact Acquisition II, the third blank check company formed by Victory Park Capital to acquire a fintech business, filed on Thursday with the SEC to raise up to $225 million in an initial public offering.
The Chicago, IL-based company plans to raise $225 million by offering 22.5 million units at a price of $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. At the proposed deal size, VPC Impact Acquisition II would command a market value of $281 million.
The company is led by Co-CEOs Brendan Carroll and Gordon Watson, who serve as Senior Partner and Partner at Victory Park Capital (VPC), respectively. They are joined by CFO Carly Altieri, who is VPC's Fund Controller, and Chairman John Martin, who is a Senior Partner at VPC. The firm's previous SPACs include L&F Acquisition (LNFA.U; +12% from $10 offer price), which raised $150 million in November, and VPC Impact Acquisition (VIHA; +83%), which raised $200 million in September and has a pending merger agreement with cryptocurrency exchange Bakkt.
VPC Impact Acquisition II intends to concentrate on global high-growth businesses in the fintech industry with operations predominantly outside of the US and enterprise values between $800 million and $3 billion.
VPC Impact Acquisition II was founded in 2021 and plans to list on the Nasdaq under the symbol VIHBU. Citi and Jefferies are the joint bookrunners on the deal.
