Eldridge's Fintech SPAC Leads IPO Floats Worth $900M

Law360 (August 21, 2020, 6:42 PM EDT) -- Private equity firm Eldridge Industries' financial services-focused blank check company led a trio of special purpose acquisition companies to introduce their units on the exchanges Friday in initial public offerings totaling $900 million.

Connecticut-based Eldridge Industries LLC's Horizon Acquisition Corp. said it raked in at least $500 million to focus on merging with a financial services-related company. The second SPAC to debut, Fast Acquisition Corp., which was created by the founder of restaurant chain Ruby Tuesday and counts NFL players among its advisers, said it garnered $200 million to target North American restaurant and hospitality businesses. And Colonnade Acquisition Corp. raised...

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