CF Finance CFFAU = 1C, 3/4W
Complete Grosvenor GCMG
Cantor.. forward purchase contract with us, to purchase, in a private placement for gross proceeds of $30,000,000 ... 3,000,000 of our units
these additional institutional investors have committed to participate in the transaction through a $195 million private investment in public equity (“PIPE”) at $10.00 per share. Common or Units?
Michael Klein Churchill. FT article
the CFAC Sponsor will forfeit one-third of their class B shares, further enhancing the transaction’s value.
extend the deadline to consummate an initial business combination from June 17, 2020 to September 17, 2020 (the “Extension”).
will contribute to the Company’s trust account $0.09 for each share .... will increase the pro rata portion of the funds available in the Company’s trust account from approximately $10.33 per Public Share to approximately $10.42 per Public Share.
IPO Trust $10.00 - 27,775,000 shares
Trust $277,750,000, comprised of $269,000,000 of the proceeds from the IPO and the sale of the Over-Allotment Units, $6,000,000 of the proceeds of the sale of the Private Placement Units and $2,750,000 of the proceeds from the Sponsor Loans, was placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A.
Term 18 Months.
Closed 12/17/18
Focus intend to focus on potential target companies in the financial services or real estate services industries.
Sole Book-Running Manager Cantor
We, our sponsor, and CF&Co are all affiliates of Cantor.
Lock-up - Our initial stockholders have agreed not to transfer, assign or sell any of their founder shares, or any of the additional 750,000 shares of Class A common stock issuable to our sponsor at the time of the initial business combination pursuant to the forward purchase contract, until the earlier to occur of: (A) one year after the completion of our initial business combination or (B) subsequent to our initial business combination, (x) if the last reported sale price of our Class A common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial business combination, or (y) the date on which we complete a liquidation, merger, capital stock exchange or other similar transaction that results in all of our stockholders having the right to exchange their shares of common stock for cash, securities or other property (except as described herein under the section of this prospectus entitled “Principal Stockholders — Restrictions on Transfers of Founder Shares, Private Placement Units Sponsor Loan Units and Forward Purchase Units”). Any permitted transferees will be subject to the same restrictions and other agreements of our initial stockholders with respect to any founder shares. We refer to such transfer restrictions throughout this prospectus as the lock-up.