FIGX Capital Acquisition Corp. Closes US$150 Million SPAC IPO on Nasdaq
Deal News | Jul 01, 2025 | Carey Olsen
FIGX Capital Acquisition Corp., a SPAC focusing on the financial industry and aspiring multi-asset fund managers, has closed a US$150,650,000 IPO on Nasdaq, trading under the ticker 'FIGXU'. The company sold 13,100,000 units at US$10.00 each, with an additional 1,965,000 units issued on underwriters' full exercise of their over-allotment option. The management team comprises CEO Lou Gerken, Vice Chairman Jide James Zeitlin, and CFO Mike Rollins. Carey Olsen, along with Ellenoff Grossman & Schole LLP, advised on the IPO, highlighting the Cayman Islands' prestige for offshore listings work.
Sectors
- Financial Services
- Capital Markets
- Legal Services
Geography
- United States – Central to the article as the Nasdaq listing and major activities are based in the United States.
- Cayman Islands – Important as Carey Olsen, providing legal advisory for the SPAC IPO, highlights the Cayman Islands' jurisdictional appeal for offshore listings.
Industry
- Financial Services – Relevant because the SPAC targets businesses within the financial industry, including private wealth and asset managers.
- Capital Markets – Pertinent due to the SPAC's IPO on Nasdaq and the involvement of entities like Cantor Fitzgerald & Co. in the offering.
- Legal Services – Relevant owing to the advisory role played by Carey Olsen and Ellenoff Grossman & Schole LLP in the SPAC's legal and regulatory aspects.
Financials
- 150650000 – Gross proceeds from the SPAC IPO resulting from the sale of 15,065,000 units at $10.00 each.
- 10.00 – Price per unit in the SPAC IPO.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| FIGX Capital Acquisition Corp. | Target | Company | A SPAC focused on identifying businesses in the financial industry, aiming to diversify into multi-asset fund management. |
| Carey Olsen | Legal Advisor | Company | Acted as the advisor on the Cayman legal and regulatory aspects of the SPAC IPO. |
| Ellenoff Grossman & Schole LLP | Lead Counsel | Company | Worked alongside Carey Olsen in advising on the IPO. |
| Cantor Fitzgerald & Co. | Book-running Manager | Company | Served as the sole book-running manager for the SPAC offering. |
| Lou Gerken | CEO & Chairman | Person | CEO and Chairman of FIGX Capital Acquisition Corp. |
| Jide James Zeitlin | Vice Chairman | Person | Vice Chairman of the Board of Directors of FIGX Capital Acquisition Corp. |
| Mike Rollins | CFO | Person | Chief Financial Officer of FIGX Capital Acquisition Corp. |
| Dylan Wiltermuth | Partner at Carey Olsen | Person | Partner at Carey Olsen, advised on the SPAC IPO. |
| Nich Vasic | Associate at Carey Olsen | Person | Associate at Carey Olsen, part of the advisory team for the SPAC IPO. |