SPAC InFinT Acquisition prices $174 million IPO, targeting fintech

InFinT Acquisition, a blank check company targeting financial technology businesses, raised $174 million by offering 17.4 million units at $10. The company offered 2.4 million more units than anticipated. It originally planned to offer 17.5 million units before lowering the offering in October. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

InFinT Acquisition is led by CEO and Director Alexander Edgarov, a Principal at Sapta Group, and Chairman Eric Weinstein, an Investment Manager at Eastmore Group. The company plans to leverage management's experience to target businesses in the financial software and financial information services sectors in North America, Latin America, Europe, and Israel.

InFinT Acquisition plans to list on the NYSE under the symbol IFIN.U. EF Hutton and JonesTrading acted as joint bookrunners on the deal.