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SPAC InFinT Acquisition files for a $175 million IPO, targeting fintech

May 20, 2021

InFinT Acquisition, a blank check company targeting financial technology businesses, filed on Thursday with the SEC to raise up to $175 million in an initial public offering.

The New York, NY-based company plans to raise $175 million by offering 17.5 million units at $10. Each unit contains one share of common stock and one-half warrant, exercisable at $11.50. At the proposed deal size InFinT Acquisition would command a market value of $219 million. 

InFinT Acquisition is led by CEO and Director Alexander Edgarov, who has been a Principal at Sapta Group since 2014 and has served as an investor and advisor to healthcare SPAC Edoc Acquisition (Nasdaq: ADOCU) since November 2020, and CFO Sheldon Brickman, who founded and has served as President of Rockshore Advisors since 2013. The management team intends to leverage its experience to target businesses in the financial software and financial information services sectors in North America, Latin America, Europe, and Israel.

The company was founded in 2021 and plans to list on the NYSE under the symbol IFIN.U. Kingswood Capital Markets is the sole bookrunner on the deal.