FinServ Acquisition Corp. II Announces Pricing of Upsized $265,000,000 Initial Public Offering
February 17 2021 - 8:37PM
FinServ Acquisition Corp. II (the “Company”) announced today that
it priced its upsized initial public offering of 26,500,000 units
at $10.00 per unit. The units will be listed on the Nasdaq Capital
Market (“Nasdaq”) and will begin trading tomorrow, Thursday,
February 18, 2021, under the ticker symbol “FSRXU”. Each unit
consists of one of the Company’s shares of Class A common stock and
one-quarter of one redeemable warrant, each whole warrant entitling
the holder thereof to purchase one share of Class A common stock at
a price of $11.50 per share. Only whole warrants are exercisable.
Once the securities comprising the units begin separate
trading, the shares of Class A common stock and warrants are
expected to be listed on Nasdaq under the symbols “FSRX” and
“FSRXW,” respectively. The offering is expected to close on
February 22, 2021, subject to customary closing conditions.
The Company is a blank check company formed for the purpose of
effecting a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination with
one or more businesses. While the Company may pursue an initial
business combination target in any business or industry, it intends
to focus its search on businesses in the financial technology
(“FinTech”) and financial services industries. The Company is led
by Lee Einbinder, Chief Executive Officer, Howard Kurz, President,
and Steven Handwerker, Chief Financial Officer.
Citigroup Global Markets Inc. and Barclays Capital Inc. are
acting as joint book running managers for the offering. The Company
has granted the underwriters a 45-day option to purchase up to an
additional 3,975,000 units at the initial public offering price to
cover over-allotments, if any.
The offering is being made only by means of a prospectus. Copies
of the prospectus may be obtained, when available, from Citigroup
Global Markets Inc., 388 Greenwich Street, New York, NY, 10013,
Attn: General Counsel, fax no.: (646) 291-1469, and from Barclays
Capital Inc., 745 Seventh Avenue, New York, NY, 10019, Attn:
Syndicate Registration, fax no.: (646) 834-8133.
Registration statements relating to these securities have been
filed with the Securities and Exchange Commission (the “SEC”) and
became effective on February 17, 2021. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of these securities in
any state or jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute
“forward-looking statements,” including with respect to the initial
public offering and the anticipated use of the net proceeds. No
assurance can be given that the offering discussed above will be
completed on the terms described, or at all, or that the net
proceeds of the offering will be used as indicated. Forward-looking
statements are subject to numerous conditions, many of which are
beyond the control of the Company, including those set forth in the
Risk Factors section of the Company's registration statement and
preliminary prospectus for the offering filed with the SEC. Copies
are available on the SEC's website, www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
Contact Lee Einbinder Chief Executive Officer
FinServ Acquisition Corp. II lee@finservacquisition.com
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