SPAC Watch: Cantor Fitzgerald Goes for 4th SPAC
After raising $450mm for it's 4th SPAC of the year, we take a look at Cantor Fitzgerald Acquisition Corporation's history
CF Acquisition Corporation IV began trading this past week after raising $450mm in their upsized IPO. This is the 4th SPAC from the Cantor Fitzgerald team, led by CEO Howard Lutnick, President Anshu Jain, and CFO Paul Pion. With 1 complete (GCMG), 1 announced target (View), this will be the 2nd CF SPAC on the hunt for a new deal.
Lutnick is CEO of Cantor Fitzgerald and BCG partners. Jain is President of Cantor. Pion is the U.S. Chief Administrative Officer and a Senior Managing Director at Cantor.
- CF IV is targeting a company with an EV between $1B – $2.5B
- Target industries include financial services, healthcare, real estate services, technology and software
CF Finance Acquisition IV Management Team:
CF Finance Acquisition Corporation (CF Acquisition I)
- CFFA raised $250mm
- Merged with GCM Grosvenor (GCMG), an alternative asset management solutions provider
- Grosvenor had an enterprise valuation of $1.5B
- The deal was announced October 23rd, approved November 3rd, with GCMG listing November 17th
- GCMG is up about 28% since De-SPAC
CF Acquisition Corporation II
- CFII raised $400mm
- Will merge with View, a smart glass maker
- The deal includes a $300mm PIPE
- The deal lists View at an enterprise valuation of $1.6B, resulting in a multiple of 3.3x EV/IPO
CF Acquisition Corporation III
- CFIII raised $200mm
- Targeting a company with an EV between $500M – $1.25B
- Target industries include financial services, healthcare, real estate services, technology and software