Portage Fintech Acquisition Corporation
PFTAU
NASDAQ Capital Market10.85
USD
+0.05
- -
CIK
0001853580
ISIN
KYG7185D1227
CUSIP
G7185D122
Return %
Stock
S&P500
1Y
0.65
26.53
3Y
11.28
76.60
5Y
8.83
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
- Richard W. Gaenzle Jr.
- Full Time Employees
- 2
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 280 Park Avenue New York City NY United States of America 10017
- IPO Date
- Jul 21, 2021
- CIK
- 0001853580
- Website
- spac.portagevc.com
- Similar Companies
- Business
- Portage Fintech Acquisition Corporation (PFTAU) 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, with an initial focus on the financial technology (FinTech) and financial services ecosystem. The company offers no current products or services beyond its SPAC structure, which includes Class A ordinary shares, redeemable warrants, and units traded on Nasdaq under the symbols PFTA, PFTAW, and PFTAU; it raised approximately $240 million in its initial public offering in July 2021 at $10 per unit, with each unit comprising one Class A ordinary share and one-third of a redeemable warrant exercisable at $11.50 per share. Portage Fintech Acquisition Corporation targets companies with large addressable markets, compelling value propositions, strong margins, and reasonable valuations, primarily in the United States, with potential opportunities in Western Europe and Canada; it was founded in 2021 as a Cayman Islands exempted company and is headquartered in Minneapolis, Minnesota. In October 2023, the company underwent a significant reorganization, changing its name to Perception Capital Corp. III to reflect its new managing sponsor, Perception Capital Partners III-A LLC, affiliated with Perception Capital Partners, a private and public investment firm specializing in SPACs; this transition included the resignation of prior officers and the appointment of new leadership, comprising Chief Executive Officer Rick Gaenzle, Chief Financial Officer Corey Campbell, and Co-Presidents Tao Tan and Jim Sheridan, alongside Chairman Scott Honour. In July 2023, shareholders approved a one-year extension of the business combination deadline to July 31, 2024, with further extensions sought, including to April 23, 2025, amid ongoing efforts to complete a transaction. In February 2024, Perception Capital Corp. III announced a definitive business combination agreement with RBio Energy Corporation, a clean energy developer focused on biorefinery assets, biomass, and biogas power generation, valuing RBio at approximately $350 million with an anticipated closing in Q2 2024 and Nasdaq listing, though the deal remains subject to shareholder approval, regulatory clearances, and compliance issues; the company faced Nasdaq delisting notices in 2024 for failing to complete a combination within 36 months and delayed filings, with trading suspended on December 9, 2024.
Perception Capital Corp. III received written notice from Nasdaq related to delayed filing of quarterly report on Form 10-Q
RBio Energy Corporation to Become a Public Company through a Business Combination with Perception Capital Corp. III
Portage Fintech Acquisition Corporation Announces Name Change to Perception Capital Corp. III
Radcliffe Capital Management, L.P. Acquires Stake in Portage Fintech Acquisition Corp