Will SPAC Austerlitz Acquisition II raise $ 1.2 Billion?

ella Jones, Deputy Editor In Chief

Austerlitz Acquisition II, the sixth blank check company formed by financial services veteran Bill Foley, raised $1.2 billion by offering 120 million units at $10. The company offered 20 million more units than anticipated. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50. The company may raise an additional $125 million at the closing of an acquisition pursuant to a forward purchase agreement with Cannae Holdings (NYSE: CNNE).

The company is led by Founder and Director Bill Foley, who is currently the Chairman of Fidelity National Financial (NYSE: FNF), Black Knight (NYSE: BKI), and Cannae Holdings, and is a Senior Managing Director of Trasimene Capital Management. CEO and Director Richard Massey currently serves as the CEO of Cannae Holdings and a Senior Managing Director of Trasimene Capital Management.

by Ella Jones | Linkedin