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The SPAC has begun talks to raise new equity to support a transaction that’s slated to value the combined entity at more than $2.5b. FTAC, led by Chairman Betsy Cohen and Chief Executive Officer Ryan Gilbert, raised roughly $755m in an August initial public offering for the purpose of acquiring or merging with a technology or financial services technology-focused company.
Cohen is also chairman of blank-check firms FinTech Acquisition Corp. IV, which last month agreed to combine with Perella Weinberg Partners, and FinTech Acquisition Corp. V. She’s also chairman of FTAC Athena Acquisition Corp. which this week filed paperwork ahead of a targeted $220 million IPO and was the chairman of FinTech Acquisition Corp. III when it merged with payments company Paya Holdings Inc.
