CF Finance Acquisition Corp. III announced the pricing of its $200 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “CFACU” tomorrow, Friday, November 13.
The new company aims to combine with a target valued at $500 million to $1.25 billion with sustainable competitive advantages and can generate predictable free cash flows. CF Finance III is led by Chairman and CEO Howard W. Lutnick, President and Director Anshu Jain and CFO and Director Paul Pion.
Total SPAC deal count for 2020 year-to-date is now 175 with $63.9 billion in gross proceeds raised. This offering is expected to close on Tuesday, November 17.
Cantor Fitzgerald & Co. is acting as the sole book running manager for the offering. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Graubard Miller serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.