InFinT Acquisition, a blank check company targeting financial technology businesses, lowered the proposed deal size for its upcoming IPO on Wednesday.
The New York, NY-based company now plans to raise $150 million by offering 15 million units at $10. The company had previously filed to offer 17.5 million units at the same price. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the revised deal size, InFinT Acquisition will raise -14% less in proceeds than previously anticipated.
InFinT Acquisition is led by CEO and Director Alexander Edgarov, a Principal at Sapta Group, and Chairman Eric Weinstein, an Investment Manager at Eastmore Group. The company plans to leverage management's experience to target businesses in the financial software and financial information services sectors in North America, Latin America, Europe, and Israel.
InFinT Acquisition was founded in 2021 and plans to list on the NYSE under the symbol IFIN.U. EF Hutton is the sole bookrunner on the deal.
