CF Acquisition Corp. IV (Nasdaq: CFIVU) announced today that it closed its initial public offering of 50,000,000 units (including 5,000,000 units sold upon exercise of the underwriters' over-allotment option) at $10.00 per unit, resulting in gross proceeds of $500,000,000. The units began trading on the Nasdaq Capital Market under the symbol "CFIVU" on December 23, 2020. Each unit consists of one share of Class A common stock and one-third 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 "CFIV" and "CFIVW," respectively.
Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of units, $500,000,000 was placed in trust. An audited balance sheet of the Company as of December 28, 2020 reflecting receipt of the proceeds upon consummation of the initial public offering and the private placement 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.
Cantor Fitzgerald & Co. acted as the sole book running manager for the offering.
About CF Acquisition Corp. IV
CF Acquisition Corp. IV 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 industries where its management team and founders have experience, including the financial services, healthcare, real estate services, technology and software industries. CF Acquisition Corp. IV is led by Chairman and Chief Executive Officer Howard W. Lutnick.
