General World News

New SPAC raises $230M to target real estate or mortgage fintech

Special purpose acquisition companies’ appetite for real estate and mortgage businesses apparently isn’t dead yet, despite recent problems involving that pushed a merger with Aurora Acquisitions Corp. to next year, if at all. Blank check company Southport Acquisition Corporation concluded on Tuesday a $230 million capital raising to pursue acquisitions mainly in mortgage and real estate verticals in the United States. 

The SPAC sold 23 million units at $10 per unit in an initial public offering (IPO). BofA Securities, the underwriter, acquired 3 million of them. The units are composed of one Class A common stock and one-half of a warrant details ⇒

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