FinTech Evolution Acquisition Group
FTEV-UN
New York Stock Exchange10.18
USD
+0.01
- -
CIK
0001839569
Return %
Stock
S&P500
1Y
3.35
26.53
3Y
1.80
76.60
5Y
1.80
80.11
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Rohit Bhagat
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 1345 Avenue of the Americas New York City NY United States of America 10105
- CIK
- 0001839569
- Website
- fintechevolution.net
- Similar Companies
- Business
- FinTech Evolution Acquisition Group (NYSE:FTEV-UN) operates as a blank check company, or special purpose acquisition company (SPAC), whose primary purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses; it focuses on financial technology (FinTech) and technology-enabled services that provide technology solutions, software, or services/products to the financial services industry, with potential targets spanning high-growth areas such as payments, lending, wealth management, insurtech, regtech, and broader technology platforms serving financial institutions. The company, incorporated in 2020 and headquartered in New York, New York, offers no current products or services beyond its SPAC structure, consisting of units that include one Class A ordinary share and one-third of a redeemable warrant exercisable at $11.50 per whole share; it maintains operations geographically centered in the United States, with a target focus on North American and global FinTech opportunities. Founded by financial services veterans including CEO Rohit Bhagat, formerly of BlackRock and Barclays Global Investors, the firm raised $274.1 million in its March 2021 initial public offering underwritten by UBS Investment Bank, placing proceeds into a trust account holding approximately 100% of IPO cash pending a business combination. In a significant development, the company announced its dissolution and liquidation in February 2023 after failing to complete an initial business combination within the required timeframe under its charter; all outstanding Class A ordinary shares were redeemed at approximately $10.18 per share, trading ceased around March 3, 2023, shares were cancelled by March 13, 2023, and warrants expired worthless, with the sponsor waiving redemption rights on Class B founder shares.