Cohen Circle Acquisition I, a blank check company led by SPAC veteran Betsy Cohen targeting fintech, raised $200 million by offering 20 million units at $10. Each unit contains one share of common stock, and one-third of a warrant.
The Philadelphia, PA-based SPAC is led by CEO and Chairman Betsy Cohen, the General Partner of Cohen Circle FinTech Ventures and Radiate Capital Fund, and CFO R. Maxwell Smeal, the CFO of Cohen Circle.
Betsy Cohen is a founder and former CEO of The Bancorp (TBBK) who, after stepping down in 2014, has become one of the most prolific SPAC executives. She was involved with several blank check companies during the 2020-2021 SPAC boom, and Cohen Circle Acquisition I represents her first new SPAC since 2021. Some of Cohen’s previous SPACs include FTAC Emerald Acquisition (EMLD), which recently announced its plan to merge with crypto-focused financial services provider Fold, FTAC Olympus Acquisition, which merged with Payoneer (Nasdaq: PAYO) in 2021, FinTech Acquisition IV, which combined with Perella Weinberg Partners (Nasdaq: PWP) in 2021, and FinTech Acquisition III, which merged with Paya in 2020 (acquired by Nuvei in 2023). A few of Cohen’s other SPACs, such as FTAC Athena Acquisition and FTAC Hera Acquisition, have liquidated.
Cohen Circle Acquisition I plans to list on the Nasdaq under the symbol CCIRU. Cantor Fitzgerald acted as sole bookrunner on the deal.