Corsair Partnering Corp, a blank check company formed by Corsair Capital targeting the financial and business services sectors, raised $250 million by offering 25 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 may raise an additional $100 million at the closing of an acquisition pursuant to a forward purchase agreement with Corsair Capital.
The company is led by CEO and Director Ignacio Jayanti, who currently serves as Managing Partner and Chairman of the Buy-outs Investment Committee at Corsair Capital, and President and Director Jeremy Schein, who is a Partner at Corsair Capital. The company plans to target the financial and business services sectors.
Corsair Partnering Corp plans to list on the NYSE under the symbol CORS.U. Evercore ISI and BofA Securities acted as joint bookrunners on the deal.
