FinTech Acquisition Corp. IV (NASDAQ:FTIV) announced in a press release that its shareholders approved its combination with global financial services firm Perella Weinberg Partners at a special meeting earlier today.
Approximately 99.9% of the votes cast at the meeting, representing approximately 79.24% of FinTech IV’s outstanding shares, voted to approve the business combination. FTIV’s shareholders also approved all other proposals at the special meeting.
Impressively, none of the stockholders elected to redeem its shares in connection with the business combination. FTIV climbed 3.36% to close at $12.29 today and reached as high as $12.95 in after-hours trading, but has since come off that peak. The transaction is expected to close as soon as June 24, and the combined entity’s shares will start trading on the Nasdaq under the symbol “PWP.”
The parties initially announced the $975 million deal on December 30. New York-based Perella Weinberg Partners provides independent strategic and financial advice to a broad client base globally, including corporations, institutions, governments, sovereign wealth funds and private equity investors.
ADVISORS
- Perella Weinberg Partners LP is serving as exclusive capital markets and financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel to PWP.
- Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Financial Technology Partners are serving as financial advisors to FinTech IV.
- Keefe, Bruyette & Woods, a Stifel Company, is serving as buy side advisor to FinTech IV.
- Cantor Fitzgerald & Co., JMP Securities LLC and Wells Fargo Securities, LLC are acting as capital markets advisors to FinTech IV.
- Morgan Lewis & Bockius, LLP is acting as legal counsel to FinTech IV.
- Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as private placement agents to FinTech IV.
- Davis Polk & Wardwell LLP is acting as legal counsel to the private placement agents.
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...
Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing...
At the SPAC of Dawn Ever since Digital World announced its combination with Trump Media (NASDAQ:DJT) back in October 2021, it was clear that SPACworld and the Trump show were set to be intertwined for quite some time. And, although not every headline has a bearing on the wider SPAC world, Trump Media’s post-close rise...
AltC (NYSE:ALCC) has reportedly been taking the pitch deck for its combination with nuclear fission firm Oklo on the road in recent weeks, which has generated the rare result of a SPAC trading significantly above its trust value still well before completing its deal. The SPAC has an estimated $10.59 per share in its trust...