CF Acquisition VII, the seventh blank check company formed by Cantor Fitzgerald, filed on Friday with the SEC to raise up to $175 million in an initial public offering.
The New York, NY-based company plans to raise $175 million by offering 17.5 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. The company may raise an additional $10 million at the closing of an acquisition pursuant to a forward purchase agreement with the sponsor. At the proposed deal size, CF Acquisition VII would command a market value of $223 million.
The company is led by CEO and Chairman Howard Lutnick, the CEO and Chairman of Cantor; President and Director Anshu Jain, the President of Cantor; and CFO and Director Alice Chan, a Managing Director and Global Controller at Cantor. The company plans to leverage its management team's experience to target businesses in the financial services, healthcare, real estate services, technology, and software industries.
Cantor's previous SPACs include CF Acquisition VIII (CFFEU), which filed concurrently with CF Acquisition VII;
CF Acquisition VI (CFVIU; +7% from $10 offer price), which raised $300 million this week; CF Acquisition V (CFFVU; +8%), which raised $250 million in January; CF Acquisition IV (CFIVU; +11%), which raised $450 million in December 2020; CF Finance Acquisition III (CFAC; +10%), which raised $200 million in November 2020 and is pending an acquisition of AEye; CF Finance Acquisition II (CFII; +10%), which went public in August 2020 and is pending a combination with smart window company View; and CF Finance Acquisition, which completed a combination with asset manager GCM Grosvenor (GCMG; +31%) in November 2020.
CF Acquisition VII was founded in 2020 and plans to list on the Nasdaq under the symbol CFFSU. Cantor Fitzgerald is the sole bookrunner on the deal.
