CF Acquisition VIII, the eighth blank check company formed by Cantor Fitzgerald, raised $220 million by offering 22 million units at $10. The company offered 2 million more units than anticipated. Each unit consists of one share of common stock and one-fourth 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 the 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 VII (CFFSU), which filed concurrently with CF Acquisition VIII and plans to raise $175 million; CF Acquisition VI (CFVIU; +1% from $10 offer price), which raised $300 million in February; CF Acquisition V (CFFVU; +0%), which raised $250 million in January; CF Acquisition IV (CFIVU; +3%), which raised $450 million in December 2020; CF Finance Acquisition III (CFAC; +2%), which raised $200 million in November 2020 and is pending an acquisition of AEye; CF Finance Acquisition II, which went public in August 2020 and is recently completed its combination with smart window company View (VIEW; -11%); and CF Finance Acquisition, which completed a combination with asset manager GCM Grosvenor (GCMG; +30%) in November 2020.
CF Acquisition VIII plans to list on the Nasdaq under the symbol CFFEU. Cantor Fitzgerald acted as a lead manager on the deal.
