Fintech SPAC Newcourt Acquisition files for a $200 million IPO

Newcourt Acquisition, a blank check company targeting digital financial services and fintech businesses, filed on Tuesday with the SEC to raise up to $200 million in an initial public offering.

The Oakland, CA-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Newcourt Acquisition would command a market value of $258 million.

The company is led by Chairman Michael Jordaan, the founder and Chairman of South Africa-based digital bank Bank Zero and founder and CEO of venture firm Montegray Capital, and CEO Marc Balkin, the founder of advisory firm Balkin and Co and a Partner at growth fund DiGame. The company plans to target digital financial services and financial technology ("fintech") businesses with exposure to emerging markets.

Newcourt Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol NCACU. Barclays and Cantor Fitzgerald are the joint bookrunners on the deal.