GIC has agreed to invest an additional $200 million in the merger of CF Finance Acquisition Corp. II, a blank check company backed by Cantor Fitzgerald and View Inc, a Silicon Valley-based smart window company. The combined company will be called View Inc and is expected to be publicly listed on the NASDAQ following the close of the transaction
NEW YORK & MILPITAS, Calif.–(BUSINESS WIRE)–CF Finance Acquisition Corp. II (Nasdaq: CFII) (“CF II”) and View, Inc. (“View”) today announced GIC, Singapore’s sovereign wealth fund, has agreed to invest an additional $200 million in the previously announced private investment in public equity (“PIPE”) issuance. The additional investment from GIC increases the fully committed PIPE investment from $300 million to $500 million.
On November 30, 2020, CF II, a special purpose acquisition company sponsored by Cantor Fitzgerald, and View, Inc., a Silicon Valley-based smart window company, entered into a definitive merger agreement. The transaction is now expected to deliver up to $1 billion of gross proceeds including the contribution of $500 million of cash held in CF II’s trust account from its initial public offering. The combined company will be called View, Inc. and is expected to be publicly listed on Nasdaq following the close of the transaction.
“View is on a mission to address climate change and human health by making buildings smarter, healthier, more sustainable and more connected,” said Dr. Rao Mulpuri, Chairman and Chief Executive Officer of View. “We are growing rapidly and the additional investment from GIC, a long-term investor, will allow us to capitalize on the tremendous growth opportunity ahead of View to modernize infrastructure and build a healthier, more sustainable future.”
For more information, visit: https://view.com/investor-relations
Sidley Austin LLP acted as legal counsel to GIC in connection with the transaction.
About CF Finance Acquisition Corp. II
CF Finance Acquisition Corp. II is a newly organized 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. CF II’s efforts to identify a prospective target business are not limited to a particular industry or geographic region, but CF II intends to focus on industries where its management team and founders have experience, including the financial services, healthcare, real estate services, technology and software industries. CF Finance Acquisition Corp. II is led by Chairman and Chief Executive Officer Howard W. Lutnick.
About View, Inc.
View, Inc. is a technology company creating smart and connected buildings to improve people’s health and wellness, while simultaneously reducing energy consumption. View is the market leader in smart windows that let in natural light and views and enhance mental and physical well-being by significantly reducing headaches, eyestrain, and drowsiness. Every View installation includes a smart building platform that consists of power, network, and communication infrastructure.
On November 30, 2020, View announced plans to become a publicly listed company through a merger with CF II. For more information, see: Smart-Windows-Press-Release.pdf (view.com).
GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. A disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. GIC has investments in over 40 countries around the world. Headquartered in Singapore, GIC employs over 1,700 people across 10 offices in key financial cities worldwide. For more information about GIC, please visit GIC’s website at www.gic.com.sg.