Lazard Fintech Acquisition I, a blank check company formed by Lazard targeting the fintech sector, filed on Monday with the SEC to raise up to $250 million in an initial public offering.
The New York, NY-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-fifth of a warrant, exercisable at $11.50. At the proposed deal size, Lazard Fintech Acquisition I would command a market value of $313 million.
The company is led by Executive Chairman Alexander Stern, who currently serves as President of Lazard Ltd (NYSE: LAZ) and Lazard Group, as well as a Managing Director of Lazard; CEO and Director Eyal Ofir, who is a Managing Director in Lazard's Financial Institutions Group; and CFO and Director Mary Ann Deignan, who is a Managing Director and Co-Head of Capital Markets Advisory at Lazard. The company plans to target the financial technology and the financial services and technology industries that offer a differentiated technology platform or product for interfacing with the financial services sector (collectively, "fintech").
Lazard's other SPACs include Lazard Healthcare Acquisition I (LHCAU), which filed concurrently with Lazard Fintech Acquisition I, and February 2021 IPO Lazard Growth Acquisition I (LGACU).
Lazard Fintech Acquisition I was founded in 2021 and plans to list on the Nasdaq under the symbol LFTAU. Goldman Sachs is the sole bookrunner on the deal.
