Fusion Acquisition Corp. (FUSE.U) Prices Upsized $305M SPAC IPO
Fusion Acquisition Corp. (FUSE.U), announced the pricing of their upsized $305 million SPAC IPO this evening and the units are expected to begin trading tomorrow, Friday, June 26th, under the symbol NYSE: FUSE.U
Fusion Acquisition Corp. intends to focus on companies with an enterprise value of approximately $750 million to $3 billion that are applying, providing or changing technology within the fintech or asset and wealth management sectors. The Fusion team will be led by Jim Ross, the former Chairman of the global SPDR exchange-traded fund (“SPDR ETF”). Mr Ross will be Fusion’s non-Executive Chairman and will be joined by John James, as CEO and Director.
Total SPAC deal count for 2020 year-to-date is now 34 with $10.803 billion in gross proceeds raised. The offering is anticipated to close on Tuesday, June 30, 2020.
Cantor Fitzgerald & Co. acted as sole book-running manager of the offering. Odeon Capital Group, LLC acted as co-manager. White & Case LLP, and Ellenoff Grossman & Schole LLP, were issuer’s counsel and underwriter’s counsel, respectively. WithumSmith+Brown, PC acted as auditor.