Bill Foley's SPAC Foley Trasimene Acquisition files for a $750 million IPO

Foley Trasimene Acquisition, a blank check company formed by financial services veteran Bill Foley, filed on Friday with the SEC to raise up to $750 million in an initial public offering.

The Las Vegas, NV-based company plans to raise $750 million by offering 75 million units at a price of $10. Each unit consists of one share and one third of a redeemable warrant exercisable at $11.50. At the proposed deal size, Foley Trasimene Acquisition would command a market value of $938 million. The SPAC intends to target a business in the financial technology or business process outsourcing industry. 

Foley Transimene Acquisition's Executive Chairman, Bill Foley, is currently the Chairman of Fidelity National Financial (NYSE: FNF), Black Knight (NYSE: BKI), and Cannae Holdings (NYSE: CNNE), and is a Senior Managing Director of Trasimene Capital Management. CEO Richard Massey serves as the CEO of Cannae Holdings and a Senior Managing Director of Trasimene Capital Management as well.

The Las Vegas, NV-based company was founded in 2020 and plans to list on the NYSE under the symbol WPF.U. Credit Suisse and BofA Securities are the joint bookrunners on the deal.