Southport Acquisition, a blank check company targeting the financial software space, raised $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.
The company is led by CEO and Director Jeb Spencer, co-founder and Managing Partner of software-focused growth equity fund TVC Capital, and Chairman Jared Stone, co-founder and former Managing Director of global private equity firm Northgate Capital. The company plans to target the financial software space with particular focus on mortgage and real estate verticals in the US.
Southport Acquisition plans to list on the NYSE under the symbol PORT.U. BofA Securities acted as sole bookrunner on the deal.
