FinTech Acquisition Corp. II completed an initial public offering of 17.5 million units at $10 each, which included the full exercise of the underwriters' overallotment option of 2.2 million units, for gross proceeds of $175 million.
Each unit in the offering consists of one share of the company's common stock and one-half of one warrant. Each whole warrant is exercisable for one share of common stock at an exercise price of $11.50 per share.
Cantor Fitzgerald & Co. served as the sole book-running manager and Northland Capital Markets acted as co-manager for the offering.
The company's units began trading Jan. 20 on the Nasdaq Capital Market under the symbol FNTEU.