separately trade the Class A common shares and warrants underlying the units commencing on November 13, 2020. Those units not separated will continue to trade on the NASDAQ Capital Market under the symbol “FTIVU” and the Class A common shares and warrants are expected to trade under the symbols “FTIV” and “FTIVW”, respectively.
PHILADELPHIA, PA, Sept. 29, 2020 (GLOBE NEWSWIRE) -- FinTech Acquisition Corp. IV (NASDAQ:FTIVU) (the “Company”), a blank-check company formed for the purpose of acquiring or merging with one or more businesses, today announced the completion of its initial public offering of 23,000,000 units at a price of $10.00 per unit, which includes 3,000,000 units issued pursuant to the underwriters’ over-allotment option, for gross proceeds to the Company of $230,000,000. The Company's units began trading on the Nasdaq Capital Market under the symbol "FTIVU" on September 25, 2020. Each unit issued in the offering consists of one share of the Company’s Class A common stock and one-third of one warrant, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “FTIV” and “FTIVW,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.
Cantor Fitzgerald & Co. and Wells Fargo Securities, LLC served as joint book-running managers for the offering. The Company granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments, if any, and on September 25, 2020, the underwriters notified the Company that they were exercising the over-allotment option in full.