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JOFF Fintech Acquisition Prices Upsized IPO at $10 Per Unit

· 02/05/2021 00:27

05:17 AM EST, 02/05/2021 (MT Newswires) -- JOFF Fintech Acquisition Corp., a blank check company, on Thursday priced its initial public offering of 36 million units at $10 per unit.

The underwriter has been granted a 45-day option to purchase up to an additional 5.4 million units.

Each unit consists of one share of a class A common stock and one-third of a redeemable warrant. Each whole warrant entitles the holder to purchase one class A share at a price of $11.50 per share.

The offering, which was increased from an initial size of 30 million units, is expected to close on Feb. 9.

The units will begin trading on the Nasdaq Stock Market on Friday under the ticker symbol, "JOFFU." Once the securities begin trading separately, the class A common shares will trade under the symbol, "JOFF," while the warrants will trade under the symbol, "JOFFW."