CF Acquisition V, the fifth blank check company formed by Cantor Fitzgerald, raised $250 million by offering 25 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 may raise an additional $10 million at the closing of an acquisition pursuant to a forward purchase agreement with its sponsor.
The company is led by CEO and Chairman Howard Lutnick, the CEO and Chairman of Cantor; President and Director Anshu Jain, the President of Cantor; and CFO and Director Alice Chan, a Managing Director and Global Controller at Cantor. The company plans to leverage its management team's experience to target businesses in the financial services, healthcare, real estate services, technology, and software industries.
Cantor's previous SPACs include CF Acquisition IV (CFIVU; +7% from $10 offer price), which raised $450 million in December 2020; CF Finance Acquisition III (CFACU; +26%), which raised $200 million in November 2020; CF Finance Acquisition II (CFII; +11%), which went public in August 2020 and is pending a combination with smart window company View; and CF Finance Acquisition, which completed a combination with asset manager GCM Grosvenor (GCMG; +30%) in November 2020.
CF Acquisition V plans to list on the Nasdaq under the symbol CFFVU. Cantor Fitzgerald acted as a lead manager on the deal.
