Motive Capital II, the second blank check company formed by Motive Partners targeting fintech, raised $300 million by offering 30 million units at $10. The company offered 5 million more units than anticipated. 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 fund vehicles managed by an affiliate of Motive Partners.
The company is led by CEO and Chairman Rob Heyvaert, the founder and Managing Partner of specialist private equity firm Motive Partners, and President Blythe Masters, an Industry Partner at Motive Partners and the former CEO of enterprise blockchain fintech Digital Asset. Motive Capital plans to leverage its management team's experience and target the fintech sector, primarily focusing on banking and payments, capital markets, data and analytics, insurance, and investment management.
Motive Capital II plans to list on the NYSE under the symbol MTVC.U. UBS Investment Bank and J.P. Morgan acted as joint bookrunners on the deal.
