FinTech Acquisition, a blank check company formed by management of The Bancorp to acquire a financial technology business, announced terms for its IPO on Friday. The New York, NY-based company plans to raise $100 million by offering 10 million units for $10 each. At that price, FinTech Acquisition would command an initial market value of $137 million. The company is led by CEO Daniel Cohen. Cohen currently serves as Chairman of The Bancorp, which trades on the NASDAQ under the symbol TBBK with a market cap of about $375 million. FinTech's primary shareholders include Daniel Cohen (22% post-IPO stake), Betsy Cohen (3%) and Frank Mastrangelo (1%).

http://www.nasdaq.com/article/blank-check-for-a-hot-sector-fintech-acquisition-files-and-sets-terms-for-100-million-ipo-cm422942#/ixzz3LmxM142Y