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CFFA - CFFA STOCK NEWS

Welcome to our dedicated page for CFFA news (Ticker: CFFA), a resource for investors and traders seeking the latest updates and insights on CFFA stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect CFFA's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of CFFA's position in the market.

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CF Finance Acquisition Corp. (CFFA) and GCM Grosvenor announced all necessary approvals for their business combination. The deal received unanimous approval from CFAC's board and shareholders on November 3, 2020. The transaction is expected to close on November 17, 2020. GCM Grosvenor management will retain over 78% equity post-transaction. The cash from CFAC's trust, along with $195 million from PIPE proceeds and a $30 million investment from Cantor Fitzgerald, will address various financial obligations and support future growth.

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GCM Grosvenor reported a 1% increase in Fee-Paying Assets Under Management (FPAUM) to $49.9 billion and a 19% rise in Contracted Not Yet FPAUM to $6.6 billion in Q3 2020. The firm announced approximately $14.9 million in unrealized performance fees as of September 30, 2020. GCM Grosvenor revised its 2020 forecast, expecting Adjusted Fee-Related Earnings between $89 and $91 million. A special stockholder meeting will be held on November 3, 2020, to approve a business combination with CF Finance Acquisition Corp. The new Board will include seasoned professionals to enhance governance.

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CF Finance Acquisition Corp. (CFFA) has set October 8, 2020, as the record date for its special meeting of stockholders to vote on the proposed business combination with GCM Grosvenor Inc. Stockholders will be eligible to vote if they hold shares by the end of that day. The meeting date will be announced later, pending SEC review of the registration statement related to the merger. Completion of the business combination is anticipated in Q4 2020, subject to stockholder approval and customary closing conditions.

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GCM Grosvenor will become a public company through a merger with CF Finance Acquisition Corp. (CFFA) valued at $2 billion. The transaction, expected to close soon, will result in GCM Grosvenor Inc. being listed on NASDAQ. Management will retain over 70% ownership of the combined firm, ensuring continuity in leadership. The merger will enhance liquidity and financial flexibility, enabling further investment in client services. The process includes a $195 million private investment in public equity and cash holdings to execute various financial strategies.

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CFFA

Nasdaq:CFFA

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21.07M
Financial Conglomerates
Finance
US
New York