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SPAC · Merger completed

FG New America Acquisition Corp.

Business combination with OppFi

FG New America Acquisition Corp. is a blank-check company (SPAC) that raised $225M in its initial public offering on Oct 1, 2020, listing on New York Stock Exchange. It completed its business combination with OppFi on Jul 20, 2021; the combined company is OppFi Inc. (OPFI). CWA Asset Management led the IPO, with BK Technologies and Itasca Capital. White & Case advised the SPAC and Loeb & Loeb advised the underwriters on the IPO.

OppFi is a financial technology platform that powers banks to offer accessible products to everyday consumers. It has been ranked on the Inc. 5000 list for five straight years and is the target of a NYSE-listed blank check company.

Status
Merger completed
IPO date
Oct 1, 2020
IPO size
$225M
IPO exchange
New York Stock Exchange
Target
OppFi (Opportunity Financial, LLC)
Announced
Feb 10, 2021
Closed
Jul 20, 2021
Combined company
OppFi Inc. (OPFI)
IPO underwriters
CWA Asset Management, BK Technologies, Itasca Capital, Kobex Capital, Firefly Systems and Sigma Capital
SPAC counsel (IPO)
White & Case
Underwriters' counsel (IPO)
Loeb & Loeb

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