Quantum FinTech Acquisition, a blank check company targeting businesses providing tech services to the financial sector, filed on Tuesday with the SEC to raise up to $150 million in an initial public offering.
The Tampa, FL-based company plans to raise $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one warrant to purchase one-half of a share, exercisable at $11.50. At the proposed deal size, Quantum FinTech Acquisition would command a market value of $188 million.
The company is led by CEO and Chairman John Schaible, the co-founder and Vice Chairman of Atlas Bank. Schaible also serves as CEO of Atlas affiliates Atlas FinTech and AtlasBanc. The company plans to target businesses that provide tech services to the financial services industry, with particular emphasis on providers of data processing, industry growth technology, business-to-business access to transmission of currencies, storage and transmission services, data bases, and payment processing services with enterprise values of up to $1 billion.
Quantum FinTech Acquisition was founded in 2020 and plans to list on the NYSE under the symbol QFTA.U. The company filed confidentially on November 19, 2020. Chardan Capital Markets is the sole bookrunner on the deal.
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