NEW YORK, Jan. 29, 2019 /PRNewswire/ -- CF Finance
Acquisition Corp. (Nasdaq: CFFAU, the "Company") announced today
that it closed the issuance of an additional 758,413 units pursuant
to the partial exercise of the underwriters' over-allotment option
in connection with its initial public offering at $10.00 per unit, resulting in gross proceeds of
$7,584,130 and bringing the total
gross proceeds of the initial public offering to $282,584,130.
Of the proceeds received from the consummation of the initial
public offering (as well as the exercises of the over-allotment
option), a simultaneous private placement of units and loans by the
Company's sponsor, $285,409,971.30
(or $10.10 per unit sold in the
initial public offering) was placed in trust.
Cantor Fitzgerald & Co. is acting as the sole book running
manager for the offering.
The units began trading on the Nasdaq Capital Market ("Nasdaq")
under the symbol "CFFAU" on December 13,
2018. Each unit consists of one share of Class A common
stock and three-quarters 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.
The Company also announced today that, commencing January 31, 2019, holders of the 28,258,413 units
sold in the Company's initial public offering (including units sold
pursuant to the exercises of the underwriters' over-allotment
option) may elect to separately trade shares of the Company's Class
A common stock and warrants included in the units. Class A common
stock and warrants that are separated will trade on The Nasdaq
Capital Market under the symbols "CFFA" and "CFFAW," respectively.
No fractional warrants will be issued upon separation of the units
and only whole warrants will trade. Those units not separated will
continue to trade on The Nasdaq Capital Market under the symbol
"CFFAU." Holders of units will need to have their brokers contact
Continental Stock Transfer & Trust Company, the Company's
transfer agent, in order to separate the units into shares of Class
A common stock and warrants.
About CF Finance Acquisition
Corp.
CF Finance Acquisition Corp. 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 prospective target companies in the
financial services or real estate services industries. CF Finance
Acquisition Corp. is led by Chairman and Chief Executive Officer
Howard W. Lutnick.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission (the
"SEC") on December 12, 2018. 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 Finance Acquisition Corp.