The Bancorp (TBBK) Files IPO for FinTech Acquisition Corp
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The Bancorp, Inc. (Nasdaq: TBBK) announced today that a registration statement on Form S-1 has been filed with the Securities and Exchange Commission for an initial public offering of units of FinTech Acquisition Corp., a newly incorporated special purpose acquisition corporation formed for the purpose of acquiring one or more businesses, seeking to raise $100 million for FinTech in an offering to be underwritten by UBS Investment Bank.
FinTech Acquisition Corp. is proposing to offer to sell 10,000,000 units, consisting of one share of common stock and one warrant to purchase one share of common stock per unit, at an offering price of $10.00 per unit. The net proceeds of the offering will be held in trust pending the completion of an acquisition. The timing of the offering is subject to market conditions, regulatory approvals and certain other conditions.[SM]
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