Far Point Upsizes SPAC to $500 Million
by Kristi Marvin on 2018-06-06 at 11:15am

Far Point Acquisition Corporation Files for $400 Million $500 Million IPO

Far Point Acquisition Corp, the Third Point LLC sponsored Fintech SPAC, filed an amended S-1 today, upsizing the deal to $500 million.  Previous filings indicated an IPO of $400 million.

Upsizing an IPO 25% signals a tremendous amount of demand already, although this is unsurprising given the high profile nature of this SPAC.  Far Point should price next week, right behind GS Acquisition Holdings Corp.  Below is a reminder of Far Point’s summary terms.

Summary terms include:
  • $10.00 unit comprised of one share of Class A common Stock and one-third of a full warrant
  • 100% held in trust ($10.00 per share)
  • 24 months to announce an acquisition (+ 3 month extension with LOI)
  • Warrant Redemption Price: $18.00
  • Redemption Rights:  limitation of 15% of the shares sold in the IPO
  • Sponsored by Far Point LLC, an affiliate of Third Point LLC
  • Forward Purchase Agreement: capped at the amount of redeeming shares over 20 million (40% of the IPO)
  • Underwriter fees: 2.0% + 3.5% deferred fee

 

Far Point Upsizes SPAC to $500 Million
Recent Posts
by Nicholas Alan Clayton on 2025-06-30 at 9:04pm

NMP Acquisition Corp. (NASDAQ:NMPAU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “NMPAU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company that has a resilient business model with potential to scale up revenue. NMP’s management...

by Nicholas Alan Clayton on 2025-06-30 at 5:10pm

Cohen Circle Acquisition Corp. II (NASDAQ:CCIIU) announced the pricing of its $220 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CCIIU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company in the financial services technology (fintech) sector and fintech adjacent sectors that...

by Nicholas Alan Clayton on 2025-06-30 at 4:57pm

Indigo Acquisition Corp. (NASDAQ:INACU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “INACU”, Tuesday, July 1, 2025. The new SPAC plans to combine with an established, profitable company whose growth potential can benefit from its team’s expertise. Indigo’s management team is...

by Nicholas Alan Clayton on 2025-06-30 at 3:49pm

After a quiet June, July is set to be active throughout the month with nine de-SPACs and sponsors coming unlocked from their trading restrictions. This timing is most fortuitous for insurance investor Abacus Life (NASDAQ:ABL) and East Resources, which took it public in 2023, as it is the best performer of this group of companies...

by Nicholas Alan Clayton on 2025-06-30 at 1:15pm

Pyrophyte II (NYSE:PAII.U) has filed for a $175 million SPAC to dig for a natural resources target while the team’s first deal remains pending. The new SPAC is offering investors 1/2 warrants in each unit and it will have 24 months to complete a business combination without asking shareholders for an extension. It is the...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved