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Former NYSE President's second SPAC Far Peak Acquisition prices $550 million IPO at $10

December 3, 2020

Far Peak Acquisition, the second blank check company formed by former NYSE President Tom Farley to acquire a fintech, raised $550 million by offering 55 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.

The company is led by CEO and Chairman Thomas Farley, who previously served as the President of the NYSE Group of Intercontinental Exchange, and CFO and Director David Bonanno, who was a Managing Director at Third Point until recently. Far Peak Acquisition plans to target businesses in the financial technology, technology, or financial services industries with enterprise values over $2 billion.

Farley and Bonanno's previous SPAC, Far Point Acquisition, went public in June 2018 and completed its acquisition of Swiss fintech Global Blue (GB; +17% from $10 offer price) in August 2020.

Far Peak Acquisition plans to list on the NYSE under the symbol FPAC.U. Wells Fargo Securities acted as a lead manager on the deal.