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Jan. 20 (Reuters) – Blank check firm FTAC Athena Acquisition Corp, backed by banking entrepreneur Betsy Cohen, aims to raise around $ 220 million through an initial public offering (IPO), revealed Wednesday a regulatory filing of the company.
The company is offering 22 million units, which include stocks and warrants, priced at $ 10 each.
The Special Purpose Acquisition Company (SPAC) said it intends to identify a tech or fintech company, although it may pursue a business combination outside of those industries. (bit.ly/2NgPLcR)
PSPCs are shell companies that raise funds through an IPO for the purpose of merging with an operating entity, and have been an extremely popular investment vehicle over the past year.
Cohen’s FinTech Acquisition Corp IV agreed in December to list investment bank Perella Weinberg Partners in a deal valued at $ 975 million.
Cohen, one of the first female entrepreneurs in the commercial banking industry, founded her first bank in 1974 and then established businesses in Hong Kong and Brazil.
FTAC Athena plans to list its units on the Nasdaq. Cantor is the main subscriber of the offer. (Reporting by Sohini Podder in Bengaluru; Editing by Ramakrishnan M.)
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