FSRV - FinServ Acquisition Corp. starts second SPAC IPO; first one rose some 70% on Katapult deal

Fresh off of a successful deal to buy fintech Katapult Holding Inc. (KPLT) at a $1 billion valuation, FinServ Acquisition Corp. (FSRV) is launching an initial public offering on a second SPAC, looking to raise as much as $287.5M. FinServ Acquisition Corp. II is offering the public 25M investing units for $10 each, plus up to 3.75M additional units that underwriters can use as overallotments, according to an S-1 filing with the U.S. Securities and Exchange Commission. Plans call for each investing unit in the special purpose acquisition company to consist of one Class A share and 0.25 warrants to purchase a second share at $11.50 in the future. If underwriters exercise all overallotments, the deal would raise $287.5 million, or $271.2 million after deducting IPO commissions and fees. The SPAC’s sponsors also intend to invest $7 million to $7.75 million via a private placement for 700,000 units at $10 each

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FinServ Acquisition Corp. starts second SPAC IPO; first one rose some 70% on Katapult deal