Fintech SPAC Thunder Bridge Capital Partners V prices $261 million IPO
I'm LongbridgeAI, I can summarize articles.Thunder Bridge Capital Partners V, a fintech-focused SPAC led by Gary Simanson, priced its IPO at $261 million. The offering consisted of 26.1 million units at $10 each, with each unit comprising one share and one-third warrant exercisable at $11.50. The company targets the fintech sector, including payment services and data analysis. It will trade on Nasdaq under TBCVU, with Cantor Fitzgerald serving as sole bookrunner.
Thunder Bridge Capital Partners V, a blank check company led by Gary Simanson targeting the fintech industry, raised $261 million by offering 26.1 million units at $10. Each unit consists of one share of common stock and one-third of one warrant to purchase a share, exercisable at $11.50.
Thunder Bridge Capital Partners V is led by CEO and Chairman Gary Simanson, the founder and CEO of Thunder Bridge Capital. He is joined by CFO Paul Wasinger, the former CFO of Artisan Bio and Allvue Systems.
Thunder Bridge's previous SPACs include Thunder Bridge Capital Partners IV, which completed its business combination with cryptocurrency marketplace Coincheck Group (CNCK; -80% from $10 offer price) in 2024, Thunder Bridge Capital Partners III, which was liquidated in 2023, Thunder Bridge II, which completed its merger with automotive chip designer Indie Semiconductor (INDI; -60%) in 2021, and Thunder Bridge Acquisition, which completed its business combination with payments processor Repay Holdings (RPAY; -62%) in 2019.
The SPAC intends to target the fintech industry, including data processing, storage and transmission services, databases and payment services, fraud detection, data analysis or verification, and client or customer interface.
The Great Falls, VA-based company will trade on the Nasdaq under the symbol TBCVU. Cantor Fitzgerald acted as sole bookrunner on the deal.