Home Plate Acquisition, a blank check company targeting the fintech and Embedded Finance sectors, filed on Friday with the SEC to raise up to $200 million.
The New York, NY-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Certain anchor investors intend to purchase $199.8 million worth of units in the offering (99.9% of the deal). At the proposed deal size, Home Plate Acquisition would command a market value of $250 million.
The company is led by CEO and Chairman Daniel Ciporin, a former General Partner at Canaan Partners, and CFO and Director Jonathan Rosenzweig, former Managing Director and Head of Americas Equity Research at Citi. The company plans to target the financial technology and Embedded Finance sectors. Embedded Finance refers to the combination of a non-financial service provider with a financial technology.
Home Plate Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol HPLTU. Jefferies is the sole bookrunner on the deal.
