FSRV - New FinServ SPAC pops on open two months after first one soared on Katapult deal

Ex-Barclays Vice Chairman Lee Einbinder’s second SPAC popped as much as 11% on its first session Thursday, just months after his first one soared more than 40% on a deal to buy fintech Katapult at a $1B valuation.Einbinder’s new FinServ Acquisition Corp. II (FSRXU) rose as much as 11% to $11.05 intraday on the Nasdaq after raising $265M through an upsized initial public offering that priced investment units at $10 apiece. The name pulled back some later in the session, but was trading at $10.90 shortly after noon ET, up 9% on the day.FSRXU sold 26.5M investment units through its IPO, raising $265M. The SPAC’s sponsors also granted underwriters a 45-day option to sell as many as 3.975 million additional to cover any overallotments, potentially raising $39.75M more.All told, the SPAC could take in nearly $305M from the IPO, which Einbinder’s team upsized from the original offering of 25M units

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New FinServ SPAC pops on open two months after first one soared on Katapult deal