Quantum FinTech Acquisition Corporation Announces Exercise and Closing of Underwriters’
Quantum FinTech Acquisition Corporation (the “Company”) announced that the underwriters of its previously announced initial public offering of units have exercised their over-allotment option in full, resulting in the issuance of an additional 2,625,000 units at a public offering price of $10.00 per unit. After giving effect to the exercise and close of the option, an aggregate of 20,125,000 units have been issued in the initial public offering and an aggregate of $201,250,000 has been deposited in the Company’s trust account.
Each unit consists of one share of common stock and one redeemable warrant, with each warrant entitling the holder thereof to purchase one half-share of common stock at a price of $11.50 per full share. The units are listed on the New York Stock Exchange (“NYSE”) and trade under the ticker symbol “QFTA.U.” Once the securities comprising the units begin separate trading, the shares of common stock and redeemable warrants, are expected to be listed on the NYSE under the symbols “QFTA” and “QFTA WS,” respectively.
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Quantum FinTech Acquisition Corporation is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses. While the Company may pursue an initial business combination in any region or sector, it intends to focus its efforts on identifying high-growth financial services and FinTech businesses as targets for its initial business combination.
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