Austerlitz Acquisition II, the sixth blank check company formed by financial services veteran Bill Foley, raised $1.2 billion by offering 120 million units at $10. The company offered 20 million more units than anticipated. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. The company may raise an additional $125 million at the closing of an acquisition pursuant to a forward purchase agreement with Cannae Holdings (NYSE: CNNE).
The company is led by Founder and Director Bill Foley, who is currently the Chairman of Fidelity National Financial (NYSE: FNF), Black Knight (NYSE: BKI), and Cannae Holdings, and is a Senior Managing Director of Trasimene Capital Management. CEO and Director Richard Massey currently serves as the CEO of Cannae Holdings and a Senior Managing Director of Trasimene Capital Management.
Foley's other SPACs include Austerlitz Acquisition I (AUS.U), which raised $600 million concurrently with Austerlitz Acquisition II; Foley Trasimene Acquisition II (BFT; +53% from $10 offer price), which went public in August 2020 and has a pending merger agreement with payments provider Paysafe; Trebia Acquisition (TREBU; +17%), which went public in June 2020; Foley Trasimene Acquisition (WPF; +4%), which went public in May 2020 and has a pending merger agreement with benefits services provider Alight; and CF Corporation, which went public in 2016 and acquired Fidelity & Guaranty Life in 2017 to form FGL Holdings. FGL Holdings was acquired by Fidelity National Financial in June 2020 for $12.50 per share, valuing it at $2.7 billion.
Austerlitz Acquisition II plans to list on the NYSE under the symbol ASZ.U. Credit Suisse, J.P. Morgan and BofA Securities acted as lead managers on the deal.
The article Bill Foley's SPAC Austerlitz Acquisition II prices upsized $1.2 billion IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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