Quantum FinTech Acquisition Corporation announced today the closing of its initial public offering of 17,500,000 units at $10.00 per unit. The offering was priced at $10.00 per unit, generating total gross proceeds of $175,000,000.
The units are listed on the New York Stock Exchange and trade under the ticker symbol “QFTA.U.” Each unit consists of one share of common stock and one redeemable warrant, with each warrant entitling the holder thereof to purchase one half-share of common stock at a price of $11.50 per full share. Once the securities comprising the units begin separate trading, the shares of common stock and redeemable warrants, are expected to be listed on the NYSE under the symbols “QFTA” and “QFTA WS,” respectively.
Chardan acted as sole book running manager in the offering. The underwriters have been granted a 45-day option to purchase up to an additional 2,625,000 units offered by the Company to cover over-allotments, if any, at the initial public offering price.