FTIV - Betsy Cohen's SPAC climbs after strong Q1 at Perella Weinberg sees Q2 deal close

FinTech Acquisition Corp. IV (FTIV) stock gains 1.3% after its acquisition target, Perella Weinberg Partners, reports that Q1 adjusted net income jumped more than six-fold from the year-ago quarter and that its acquisition by FTIV is expected to close in Q2 2021.In late December, Betsy Cohen's SPAC FTIV reached an agreement to merge with the boutique financial advisory firm in a deal that values Perella Weinberg at ~$975M.Perella Weinberg said its business benefited from "robust activity across all of its industries and geographies and in all of its advisory products.Q1 revenue jumped to $169.8M from $92.4M in the year-ago quarter, reflecting strong growth in its M&A and restructuring advisory businesses.Adjusted operating income for the quarter ended March 31, 2021 increased to $36.0M from $4.24M a year ago.Adjusted net income of $31.5M grew from $4.73M a year earlier.

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Betsy Cohen's SPAC climbs after strong Q1 at Perella Weinberg, sees Q2 deal close