Wednesday, October 8, 2025

Latest

SPAC Portage Fintech Acquisition Upsizes IPO To US$240 Million

Special purpose acquisition company Portage Fintech Acquisition Corporation (Nasdaq: PFTAU) announced Tuesday that it is upsizing its initial public offering to US$240.0 million. The company, backed by venture capital platform Portage Ventures, went public on Nasdaq Stock Market today.

The offering consists of 24.0 million units priced at US$10.00 per unit. Each unit is composed of one Class A common share and one-third of a purchase warrant. Each whole warrant is redeemable for one Class A common share at US$11.50 per share.

The company units trade on the Nasdaq big board under the symbol “PFTAU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “PFTA” and “PFTAW”, respectively.

The proposed offering is being managed by Goldman Sachs & Co., BTG, and Scotia Capital USA as joint bookrunners, which the company granted a 45-day over-allotment option to purchase additional 3.6 million company units at the same IPO price.

The offering is expected to close on July 23, 2021, subject to customary closing conditions.

The newly-organized blank check company will be looking to transact with firms in the financial technology or financial services ecosystem. Portage Ventures CEO Adam Felesky and former Citigroup’s Global Consumer Group CEO Steve Freiberg will serve as the company’s CEO and Chairman, respectively.


Information for this briefing was found via Sedar and Portage Fintech Acquisition. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Start-Up EV Maker Rivian Files Paperwork for IPO

On August 27, the private start-up electric vehicle manufacturer Rivian submitted a widely anticipated confidential...

Tuesday, August 31, 2021, 03:37:00 PM

Fitness Operator F45 Training Closes US$279 Million IPO

Fitness center franchisor F45 Training Holdings Inc. (NYSE: FXLV) closed its initial public offering Monday,...

Tuesday, July 20, 2021, 10:25:00 AM

LNG Firm Excelerate Energy Launches IPO

Liquefied natural gas company Excelerate Energy is looking to go public on the New York...

Tuesday, April 5, 2022, 02:21:00 PM

SPAC Without SPAC’s Reputation? Bill Ackman’s Pershing Square Tontine Plans To Offer Warrants After Failed Reverse Merger

After failing to consummate a business combination, blank check firm Pershing Square Tontine Holdings Ltd...

Tuesday, July 12, 2022, 01:33:00 PM

Coinbase: The IPO Deep Dive

Coinbase Global (NASDAQ: COIN) is one of the hottest deals coming to market in 2021...

Tuesday, April 13, 2021, 01:30:00 PM