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FinTech Acquisition Corp. IV (FTIV) Shareholders Approve Perella Weinberg Partners Deal

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FinTech Acquisition Corp. IV (FTIV) Shareholders Approve Perella Weinberg Partners Deal

Jun 22, 2021 INTEL by Marlena Haddad

FinTech Acquisition Corp. IV  (NASDAQ:FTIV) announced in a press release that its shareholders approved its combination with global financial services firm Perella Weinberg Partners at a special meeting earlier today.

Approximately 99.9% of the votes cast at the meeting, representing approximately 79.24% of FinTech IV’s outstanding shares, voted to approve the business combination. FTIV’s shareholders also approved all other proposals at the special meeting.

Impressively, none of the stockholders elected to redeem its shares in connection with the business combination. FTIV climbed 3.36% to close at $12.29 today and reached as high as $12.95 in after-hours trading, but has since come off that peak. The transaction is expected to close as soon as June 24, and the combined entity’s shares will start trading on the Nasdaq under the symbol “PWP.”

The parties initially announced the $975 million deal on December 30. New York-based Perella Weinberg Partners provides independent strategic and financial advice to a broad client base globally, including corporations, institutions, governments, sovereign wealth funds and private equity investors.

ADVISORS

  • Perella Weinberg Partners LP is serving as exclusive capital markets and financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel to PWP.
  • Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Financial Technology Partners are serving as financial advisors to FinTech IV.
  • Keefe, Bruyette & Woods, a Stifel Company, is serving as buy side advisor to FinTech IV.
  • Cantor Fitzgerald & Co., JMP Securities LLC and Wells Fargo Securities, LLC are acting as capital markets advisors to FinTech IV.
  • Morgan Lewis & Bockius, LLP is acting as legal counsel to FinTech IV.
  • Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as private placement agents to FinTech IV.
  • Davis Polk & Wardwell LLP is acting as legal counsel to the private placement agents.

ByMarlena Haddad