Quantum FinTech Acquisition, a blank check company targeting businesses providing tech services to the financial sector, raised $175 million by offering 17.5 million units at $10. The company offered 2.5 million more units than anticipated. Each unit consists of one share of common stock and one warrant to purchase one-half of a share, exercisable at $11.50.
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 plans to list on the NYSE under the symbol QFTA.U. Chardan Capital Markets acted as a lead manager on the deal.
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