South Mountain Merger Corp. (SMMCU), filed their 8-a12b and their CERT today, indicating they are getting ready to price their $200 million fintech-focused SPAC, or more specifically, “…on businesses that will benefit from the rapidly evolving payment ecosystem…”. South Mountain is being led by Charles Bernicker, the former CFO of CardConnect, which merged with FinTech Acquisition Corp I (another SPAC), back in July of 2016, and the combined company was ultimately bought by First Data in 2017 for $15.00 a share.
Additionally, Mr. Bernicker ALSO served as a consultant to the International Money Express management team (NASDAQ: IMXI) on their merger with FinTech Acquisition Corp. II, in July 2018. As a result, Mr. Bernicker has experience with two very successful SPAC transactions. Albeit, from the vantage point of the other side of the negotiating table.
This SPAC will make it number 27 for 2019’s year-to-date count and push total gross proceeds over $6 billion. Stay tuned for any surprise up-sizes or changes to terms.
Summary of terms below:
Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...
M3-Brigade V (NASDAQ:MBAV) has entered into a definitive agreement to combine with crypto treasury firm ReserveOne, assembling about $1 billion in equity funding. ReserveOne is setting up a diversified Bitcoin and digital asset treasury with a portion of its investments going towards blockchain infrastructure and venture raises. The combined company is expected to trade on...
At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...