SPAC Watch: Cantor Fitzgerald Goes for 4th SPAC

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