China fintech-focused Spac scoops up $230m US IPO

By Jonathan Breen
21 Jun 2018

Thunder Bridge Acquisition began trading on the Nasdaq this week after sealing a $230m IPO. It is the first special purpose acquisition vehicle (Spac) to focus purely on China’s financial technology sector.

The issuer came out with 20m units at a fixed price of $10. Each unit comprised one share of common stock and a warrant to buy an additional share at $11.50. There was also a 3m unit greenshoe that was exercised.

The management of the Virginia, US-based firm ...

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