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BY HEMANTH AT 03:30 AM ET -
Insight Acquisition Corp. (the “Company”) today announced the pricing of its initial public offering of 24,000,000 units at a price of $10.00 per unit. The units will be listed on the New York Stock Exchange (“NYSE”) and trade under the ticker symbol “INAQ.U” beginning on Sept 2, 2021. Each unit consists of one share of Class A common stock and one-half of one redeemable warrant, with each whole warrant exercisable to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants will be exercisable. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on the NYSE under the symbols “INAQ” and “INAQ WS,” respectively.
Insight Acquisition Corp. is a blank-check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on businesses in the FinTech or financial services industry with an enterprise value of approximately $750 million to$1.5 billion, with particular emphasis on businesses that are providing or changing technology for traditional financial services (“FinTech”), those in the wealth, investment, asset management and insurance sectors, or certain types of technology companies that provide services to the FinTech or financial services companies.
Cantor Fitzgerald & Co. is acting as the solebook-running manager for the offering. Odeon Capital Group, LLC is acting as lead manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,600,000units at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. When available, copies of the prospectus relating to this offering may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor New York, New York 10022; Email: prospectus@cantor.com.
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on September 1, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.