NEW YORK, Dec. 17, 2018 /PRNewswire/ -- CF Finance
Acquisition Corp. (Nasdaq: CFFAU) (the "Company") announced today
that it closed its initial public offering of 25,000,000 units at
$10.00 per unit, resulting in gross
proceeds of $250,000,000. The units
began trading on the Nasdaq Capital Market ("Nasdaq") under the
symbol "CFFAU" on December 13, 2018.
Each unit consists of one share of Class A common stock and
three-quarters of one warrant. Each whole warrant is exercisable to
purchase one share of Class A common stock at a price of
$11.50 per share. Only whole warrants
are exercisable. Once the securities comprising the units begin
separate trading, the Class A common stock and warrants are
expected to be listed on the NASDAQ under the symbols "CFFA" and
"CFFAW," respectively.
Of the proceeds received from the consummation of the initial
public offering, a simultaneous private placement of units and a
loan by the Company's sponsor, $252,500,000 was placed in trust. An audited
balance sheet of the Company as of December
17, 2018 reflecting receipt of the proceeds upon
consummation of the initial public offering, the private placement
and the sponsor loan will be included as an exhibit to a Current
Report on Form 8-K to be filed by the Company with the Securities
and Exchange Commission ("SEC").
The underwriters have been granted a 45-day option to purchase
up to an additional 3,750,000 units offered by the Company to cover
over-allotments, if any.
Cantor Fitzgerald & Co. acted as the sole book running
manager for the offering.
About CF Finance Acquisition Corp.
CF Finance Acquisition Corp. is a newly organized blank check
company formed for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses. The
Company's efforts to identify a prospective target business will
not be limited to a particular industry or geographic region, but
the Company intends to focus on prospective target companies in the
financial services or real estate services industries. CF Finance
Acquisition Corp. is led by Chairman and Chief Executive Officer
Howard W. Lutnick.
A registration statement relating to these securities was
declared effective by the SEC on December
12, 2018. The offering has been made only by means of a
prospectus, copies of which may be obtained by contacting Cantor
Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue,
5th Floor New York, New York
10022; Email: prospectus@cantor.com. Copies of the
registration statement can be accessed through the SEC's website
at www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Forward Looking Statements
This press release includes forward-looking statements that
involve risks and uncertainties. Forward looking statements are
statements that are not historical facts. Such forward-looking
statements, including with respect to the anticipated use of the
net proceeds, are subject to risks and uncertainties, including
those set forth in the Risk Factors section of the Company's
registration statement and prospectus for the offering filed with
the SEC, which could cause actual results to differ from the
forward looking statements. The Company expressly disclaims any
obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the Company's expectations with respect
thereto or any change in events, conditions or circumstances on
which any statement is based.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/cf-finance-acquisition-corp-announces-closing-of-250-million-initial-public-offering-300767626.html
SOURCE CF Finance Acquisition Corp.