FTAC Hera Acquisition Corp., a blank-check company led by chairman of the board, Betsy Z. Cohen and president and CEO, Daniel G. Cohen, formed for the purpose of acquiring or merging with one or more technology and financial services technology companies, has completed its initial public offering on March 8 and the partial exercise of the underwriters’ over-allotment option today. Hera sold 85,147,760 units at a price of $10.00 per unit, for gross proceeds to the company of $851,477,600. The company’s units began trading on the Nasdaq Capital Market under the symbol “HERAU” on March 4. Each unit issued in the offering consists of one Class A ordinary share of the company and one-fourth of one warrant, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on NASDAQ under the symbols “HERA” and “HERAW,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.
Citigroup Global Markets Inc. and J.P. Morgan Securities LLC acted as the joint book-running managers for the offering.