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SPAC: Fintech-focused Motive Capital II files for a $250 million IPO

November 15, 2021

Motive Capital II, the second blank check company formed by Motive Partners targeting fintech, 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-third of a warrant, exercisable at $11.50. The company may raise an additional $100 million at the closing of an acquisition pursuant to a forward purchase agreement with fund vehicles managed by an affiliate of Motive Partners. At the proposed deal size, Motive Capital II would command a market value of $313 million.

The company is led by CEO and Chairman Rob Heyvaert, founder and Managing Partner of specialist private equity firm Motive Partners, and President Blythe Masters, an Industry Partner at Motive Partners and the former CEO of enterprise blockchain fintech Digital Asset. Motive Capital plans to leverage its management team's experience and target the fintech sector, primarily focusing on banking and payments, capital markets, data and analytics, insurance, and investment management.

Motive Capital II was founded in 2021 and plans to list on the NYSE under the symbol MTVC.U. UBS Investment Bank and J.P. Morgan are the joint bookrunners on the deal.