What Year Did Mfac Open Their IPO

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What Year Did MFAC Open Their IPO?

MFAC, also known as Megalith Financial Acquisition Corporation, opened their Initial Public Offering (IPO) in 2018. This special purpose acquisition company (SPAC) was formed with the purpose of acquiring or merging with one or more businesses in the financial services industry. The company was established by Paul Purcell, a prominent figure in the financial sector, and other experienced professionals.

The IPO of MFAC took place on June 21, 2018, making it a relatively new player in the financial market. The company successfully raised $250 million through the offering, with each unit consisting of one Class A ordinary share and one-third of one redeemable warrant. The warrants allow investors to purchase additional shares at a predetermined price in the future.

Since its IPO, MFAC has been actively seeking potential targets for acquisition or merger. The management team of the company is focused on identifying businesses in the financial services sector that have strong growth potential and can benefit from the expertise and resources of MFAC.

FAQs:

1. What is an IPO?
An Initial Public Offering, or IPO, is the process through which a private company makes its shares available to the public for the first time. By going public, the company can raise capital by selling shares to investors.

2. What is a SPAC?
A SPAC, or special purpose acquisition company, is a type of investment vehicle formed solely for the purpose of acquiring or merging with other companies. SPACs are usually created by experienced professionals who have expertise in a particular industry.

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3. Who is Paul Purcell?
Paul Purcell is a well-known figure in the financial services industry. He co-founded and served as the Chairman and CEO of Baird, an international wealth management, asset management, investment banking, and private equity firm.

4. What is the purpose of MFAC?
The purpose of MFAC is to acquire or merge with businesses in the financial services industry. The company aims to identify companies that have strong growth potential and can benefit from the resources and expertise of MFAC.

5. How much capital did MFAC raise in their IPO?
MFAC raised $250 million through their IPO, with each unit consisting of one Class A ordinary share and one-third of one redeemable warrant.

6. What are redeemable warrants?
Redeemable warrants are financial instruments that give investors the right to purchase additional shares of a company at a predetermined price in the future. These warrants can be exercised within a specified period of time.

7. What has MFAC been doing since their IPO?
Since their IPO, MFAC has been actively seeking potential targets for acquisition or merger. The company’s management team is focused on identifying businesses in the financial services sector that have strong growth potential and can benefit from the expertise and resources of MFAC.

In conclusion, MFAC opened their IPO in 2018, raising $250 million through the offering. The company, led by experienced professionals, aims to acquire or merge with businesses in the financial services industry. Since their IPO, MFAC has been actively seeking potential targets that can benefit from their expertise and resources. With its recent entry into the financial market, MFAC is poised to make a significant impact in the industry.
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