NEW YORK--(BUSINESS WIRE)--Far Point Acquisition Corporation (“Far Point” or the “Company”) announced today that it has a filed a registration statement on Form S-1 with the United States Securities and Exchange Commission (“SEC”) relating to the proposed initial public offering of its securities. The Company plans to list its units on the New York Stock Exchange (“NYSE”) under the symbol “FPAC.U”. The Company expects to offer 40,000,000 units at $10.00 per unit, representing a total price to public of $400,000,000. Each unit consists of one share of Class A common stock and one-third of one warrant to purchase a Class A common share. The Company expects to grant the underwriters a 45-day option to purchase up to an additional 6,000,000 units to cover over-allotments, if any.
Far Point is a newly organized blank check company organized for the purpose of pursuing a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The Company intends to focus on a target business in the financial technology, technology or financial services industries. The Chief Executive Officer of Far Point will be Thomas Farley, who served as President of the NYSE from 2013 until May 2018, and the managing partner of the Sponsor of Far Point will be an affiliate of Third Point LLC, a New York asset manager led by Daniel S. Loeb. David Bonanno, a Managing Director at Third Point, will serve as Far Point’s Chief Financial Officer.
Credit Suisse and BofA Merrill Lynch will act as the joint book-running managers for the offering. The offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus may be obtained from Credit Suisse, Prospectus Department, One Madison Avenue, New York, NY 10010; telephone: (800) 221-1037; email: firstname.lastname@example.org; or BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, North Carolina 28255-0001, Attn: Prospectus Department or by email at email@example.com.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be a sale of any of these securities in any state or jurisdiction where such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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 the successful consummation of the Company's initial public offering, are subject to risks and uncertainties, 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.