Newcourt Acquisition, a blank check company targeting digital financial services and fintech businesses, raised $220 million by offering 22 million units at $10. The company offered 2 million more units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by Chairman Michael Jordaan, the founder and Chairman of South Africa-based digital bank Bank Zero and founder and CEO of venture firm Montegray Capital, and CEO Marc Balkin, the founder of advisory firm Balkin and Co and a Partner at growth fund DiGame. The company plans to target digital financial services and financial technology ("fintech") businesses with exposure to emerging markets.
Newcourt Acquisition plans to list on the Nasdaq under the symbol NCACU. Cantor Fitzgerald acted as sole bookrunner on the deal.
