Fintech Acquisition Corp. II                2:15 PM   August 16, 2018  
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(Business Combination or IPO Details) to access the relevant details.  Additional info below.

Business Combination

Source: SEC.gov as of May 31, 2018
CURRENT FUNDS in TRUST:$176.2 million
PRO RATA AMOUNT IN TRUST:$10.05 per share as of 2/28/18
TARGET ENTERPRISE VALUE:$339.1 million
RECORD DATE:June 19, 2018
SHAREHOLDER VOTE DATE:July 20, 2018

IPO Terms

IPO Terms/Details

Total Public Proceeds at IPO ($mm):$175.0
% Held in Trust:100.0%
$ Held in Trust per Unit:$10.00
Mgmt's Sector Expertise/Focus:Financial services technology
IPO Date:Jan. 19, 2017
Months to Complete:24
Deadline Date:Jan. 19, 2019
Unit Structure (FNTEU)
Share (FNTE):1 Common Stock
Warrant (FNTEW):1/2 Warrant
Public Warrant Terms:
Exercise Price:$11.50
Redemption Price:$18.00
Cash or Cashless Redemption:Mgmt's Discretion
Underwriters:
Book-runner(s) and Lead Mgr(s):Cantor Fitzgerald & Co.
Co-Manager(s):Northland Capital Markets
Fees (Upfront/Deferred):2.0% / 5.0%
Lawyers:
Issuer's Counsel:Ledgewood PC
Underwriter's Counsel:Ellenoff Grossman & Schole LLP

Investor Presentation  Proxy Statement Fintech II Website Intermex Website 

PROPOSED BUSINESS COMBINATION


CURRENT FUNDS in TRUST: $176.2 million 
CURRENT PER SHARE REDEMPTION PRICE:  $10.03
ENTERPRISE VALUE: $339.1 Million 

FinTech II proposes to acquire Intermex Holdings II, Inc., the parent company of Intermex® Wire Transfer, LLC, a technology enabled wire transfer and financial processing solutions provider for total consideration of approximately $260 million plus the assumption of existing indebtedness. The merged company will be renamed International Money Express, Inc. and is expected to continue to be listed on the Nasdaq Stock Market.


HIGHLIGHTS:
  • 30% annual growth in remittance transactions, producing 19 million remittances for an aggregate of approximately $6.8 billion to 17 Latin American and Caribbean corridor receiving countries in 2017
  • $215.5 million of revenues in 2017, an increase of 30% from 2016
  • $33.4 million of Adjusted EBITDA in 2017, an increase of 23% from 2016 (see the investor presentation for a reconciliation of Adjusted EBITDA, a non-GAAP measure, to net (loss) income, the closest GAAP measure)
  • Continued market share growth in key remittance corridors in 2017, processing 15.4% of the aggregate volume of remittances from the U.S. to Mexico, as reported by the Central Bank of Mexico, and 19.6% of the aggregate volume of remittances from the U.S. to Guatemala, as reported by the Central Bank of Guatemala.

 

JMP Securities LLC and Northland Securities, Inc. are acting as Capital Markets Advisors and BTIG is acting as Financial Advisor.

 

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