CF Acquisition Corp. VI Announces Closing of $300 Million Initial Public Offering

Rhea-AI Summary

CF Acquisition Corp. VI (Nasdaq: CFVIU) successfully closed its initial public offering of 30 million units at $10.00 per unit, generating $300 million in gross proceeds. The units began trading on Nasdaq on February 19, 2021. Each unit includes one share of Class A common stock and one-fourth of a warrant, with whole warrants exercisable at $11.50 per share. The proceeds will be placed in trust and an audited balance sheet will be filed with the SEC. The company aims to pursue a business combination in various sectors, leveraging the management team's expertise.

Positive

• Closed IPO raised $300 million, enhancing financial position.
• Units began trading promptly, indicating strong market interest.
• The management team's expertise is aimed at strategic acquisitions across multiple sectors.

Negative

• None.

NEW YORK, Feb. 23, 2021 /PRNewswire/ -- CF Acquisition Corp. VI (Nasdaq: CFVIU, the "Company") announced today that it closed its initial public offering of 30,000,000 units at $10.00 per unit, resulting in gross proceeds of $300,000,000. The units began trading on the Nasdaq Capital Market ("Nasdaq") under the symbol "CFVIU" on February 19, 2021. Each unit consists of one share of Class A common stock and one-fourth of one warrant. Each whole warrant is exercisable to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on the NASDAQ under the symbols "CFVI" and "CFVIW," respectively.

Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of units, $300,000,000 was placed in trust. An audited balance sheet of the Company as of February 23, 2021 reflecting receipt of the proceeds upon consummation of the initial public offering and the private placement will be included as an exhibit to a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission ("SEC").

Cantor Fitzgerald & Co. acted as the sole book running manager for the offering.

About CF Acquisition Corp. VI

CF Acquisition Corp. VI is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company's efforts to identify a prospective target business will not be limited to a particular industry or geographic region, but the Company intends to focus on industries where its management team and founders have experience, including the financial services, healthcare, real estate services, technology and software industries. CF Acquisition Corp. VI is led by Chairman and Chief Executive Officer Howard W. Lutnick.

A registration statement relating to these securities was declared effective by the SEC on February 18, 2021. The offering has been made only by means of a prospectus, copies of which may be obtained by contacting Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor New York, New York 10022; Email: prospectus@cantor.com. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements, including with respect to the anticipated use of the net proceeds, are subject to risks and uncertainties, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for the offering filed with the SEC, which could cause actual results to differ from the forward looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

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SOURCE CF Acquisition Corp. VI

FAQ

What was the total amount raised by CF Acquisition Corp. VI from its IPO?

CF Acquisition Corp. VI raised a total of $300 million from its IPO.

When did CF Acquisition Corp. VI's units start trading on Nasdaq?

CF Acquisition Corp. VI's units started trading on Nasdaq on February 19, 2021.

What does each unit of CF Acquisition Corp. VI consist of?

Each unit consists of one share of Class A common stock and one-fourth of one warrant.

What is the exercise price for the warrants issued by CF Acquisition Corp. VI?

The warrants are exercisable at a price of $11.50 per share.

What is the intended purpose of the proceeds from the IPO?

The proceeds from the IPO will be placed in trust and are intended for future business combinations.