FTAC Zeus Acquisition, a blank check company led by SPAC veteran Daniel Cohen and Launchpad Capital's Ryan Gilbert targeting fintech, raised $350 million by offering 35 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by Chairman Daniel Cohen, who currently serves as Chairman of Cohen & Company and previously was Chairman of The Bancorp (Nasdaq: TBBK), and CEO and Director Ryan Gilbert, the founder and General Partner of Launchpad Capital and former Partner at Propel Venture. The men have formed or led several SPACs, and together have the same roles at fintech-focused FTAC Parnassus Acquisition (FTPAU), which IPO'd in March.
The company intends to concentrate on identifying technology and financial services technology, or fintech, businesses that power transformation and innovation.
The Philadelphia, PA-based company plans to list on the Nasdaq under the symbol ZINGU. Citi acted as sole bookrunner on the deal.
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