NEW YORK, Dec. 20, 2021 /PRNewswire/ -- CF Acquisition
Corp. VII (Nasdaq: CFFSU, the "Company") announced today that it
closed its initial public offering of 18,250,000 units (including
750,000 units sold upon exercise of the underwriters'
over-allotment option) at $10.00 per
unit, resulting in gross proceeds of $182,500,000. The units began trading on the
Nasdaq Global Market ("Nasdaq") under the symbol "CFFSU" on
December 16, 2021. Each unit consists
of one share of Class A common stock and one-third of one warrant.
Each whole warrant is exercisable to purchase one share of Class A
common stock at a price of $11.50 per
share. Only whole warrants are exercisable. Once the securities
comprising the units begin separate trading, the Class A common
stock and warrants are expected to be listed on Nasdaq under the
symbols "CFFS" and "CFFSW," respectively.
Of the proceeds received from the consummation of the initial
public offering, a simultaneous private placement of units and a
loan by the Company's sponsor, $186,150,000 was placed in trust. An audited
balance sheet of the Company as of December
20, 2021 reflecting receipt of the proceeds upon
consummation of the initial public offering, the private placement
and the sponsor loan will be included as an exhibit to a Current
Report on Form 8-K to be filed by the Company with the Securities
and Exchange Commission ("SEC").
Cantor Fitzgerald & Co. acted as the sole book running
manager for the offering.
About CF Acquisition Corp. VII
CF Acquisition Corp. VII is a newly organized blank check
company sponsored by Cantor Fitzgerald and led by Chairman and
Chief Executive Officer Howard W.
Lutnick. CF Acquisition Corp. VII was formed for the purpose
of effecting a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination with
one or more businesses. The Company's efforts to identify a
prospective target business will not be limited to a particular
industry or geographic region, but the Company intends to focus on
industries where its management team and founders' experience will
provide the Company with a competitive advantage, including the
financial services, healthcare, real estate services, technology
and software
industries.
A registration statement relating to these securities was
declared effective by the SEC on December
15, 2021. The offering has been made only by means of a
prospectus, copies of which may be obtained by contacting Cantor
Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue,
5th Floor New York, New York
10022; Email: prospectus@cantor.com. Copies of the
registration statement can be accessed through the SEC's website
at www.sec.gov.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Forward Looking Statements
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 with respect to the anticipated use of the
net proceeds, are subject to risks and uncertainties, including
those set forth in the Risk Factors section of the Company's
registration statement and prospectus for the offering filed with
the SEC, 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.
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SOURCE CF Acquisition Corp. VII
