CF ACQUISITION CORP. IV
CFIV · Nasdaq
NO ACTION REQUIRED
Nothing left to do
The cash went back to shareholders and the company wound up. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
In plain terms
- What it is
- A SPAC from Cantor Fitzgerald (Brandon Lutnick), listed on Nasdaq in December 2020.
- What it's doing now
- It never completed a purchase. The company wound up and the cash in the account went back to shareholders — the ordinary ending when a SPAC runs out of time. No agreed deal for it is on file with us, so we cannot say whether one was ever announced and later fell through.
- What you should know
- This SPAC has finished. The cash was paid back to shareholders and the company wound up, so there is nothing left to claim — the money went where the charter said it would.
At a glance
- Where it stands
- Liquidated
- Deal
- none — it wound up and returned the cash instead
- Industry
- no filing we hold states a sector this SPAC restricted its search to
- Deal value
- no deal to value — it wound up instead
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 28 December 2020
- size not on file · 100.0% of each $10 unit into trust
- Headquarters
- 110 EAST 59TH STREET, NEW YORK, NY, 10022
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Novak Jane (Chief Financial Officer) · LUTNICK HOWARD W (Chief Executive Officer) · Hochberg Robert (Director)
- Listed securities
- CFIV common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
What has happened, and what is coming
1 dated milestoneEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 28 December 2020IPOpassed
IPO size not on file
The score
deterministic, from filed fieldsCFIV is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 292 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
CF ACQUISITION CORP. IV was a blank-check company whose common stock traded on the Nasdaq Stock Market under the ticker CFIV. The company priced its IPO on December 28, 2020, as reflected in its 424B prospectus. CF ACQUISITION CORP. IV subsequently liquidated, returning trust cash to shareholders, with the redemption evidenced by a Form 25 filed on December 7, 2023, covering its Class A common stock, warrants, and units. The common ticker CFIV appears on the cover page of an 8-K filed on November 28, 2023. The company's SEC CIK is 0001825249, and its SEC SIC industry code is 6770 (Blank Checks).
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
The extension loan mechanics mean the trust grows by at most $0.03 per share a month, roughly 0.3% of a $10 share, so nine months of waiting adds only about 27 cents while the board retains discretion to stop extending at any point. Sponsor advances are loans repayable from the combined company, not gifts to the trust. With 12,466,250 founder shares that hold no claim on the trust, the sponsor's entire return depends on a deal closing, an incentive that diverges sharply from holders who would rather take trust value at this meeting.
The disclosed formula means holders are paid roughly one cent per share per month for waiting, since $0.06 accrues over six months on a full float, and the $3,000,000 aggregate cap means the per-share rate improves only if redemptions are heavy enough to drop the float below about 11.1 million shares. That creates a perverse incentive to redeem alongside everyone else. The sponsor's 12.4 million founder shares carry no trust claim, so its whole return depends on closing a deal rather than on the trust value holders would receive.
There is no deferred underwriting commission on this balance sheet - total liabilities are $455,691 - because the Cantor structure replaces it with a business combination marketing agreement under which Cantor is paid only on closing. An extractor that treats a missing deferred-underwriting line as a data gap will be wrong here; the obligation is real but contingent and off balance sheet. Share counts reconcile once the private placement units are included: 1,457,955 + 49,542,045 = 51,000,000 Class A against 50,000,000 public units, with founder shares a quarter of the public float.
Working capital outside the trust is small and partly borrowed: $1,000,000, together with $1,750,000 of additional committed loans from the sponsor, is what is available to pay closing fees and to operate after the offering. The warrant call is a single $18.00 regime, in whole at $0.01 per warrant on a minimum 30 days' notice, and only if the last reported sale price is at or above $18.00 for any 20 trading days in a 30-trading-day period COMMENCING once the warrants become exercisable.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
Show the other 10 filings
trust account, combination deadline, going-concern doubt +3nothing moved · 6 with no prior record of ours
- Trust account
- $496.9M · unchanged
- Combination deadline
- 2024-03-28 · unchanged
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $1.8M · unchanged
- Mandate language
- the Company intends to focus its search on companies operati… · unchanged
- Redeemable shares
- 7.55M · unchanged
The clause …“overdraft facility 1,247,404 — Purchase of available-for-sale debt securities held in the Trust Account — ( 496,865,556 ) Sale of cash equivalents held in the Trust Account — 496,865,556 Proceeds from the Trust Account to redeem Public”…
The clause …“(“ASC”) 205-40, Presentation of Financial Statements – Going Concern , we have until March 28, 2024 to consummate the Initial Business Combination. Our mandatory liquidation date, if the Initial Business Combination is not”…
The clause …“Standards Codification (“ASC”) 205-40, Presentation of Financial Statements – Going Concern , the Company has until March 28, 2024 to consummate the Business Combination. The Company’s mandatory liquidation date, if the Business”…
The clause “Sponsor. As of September 30, 2023 and December 31, 2022, these amounts included $ 1,750,000 outstanding under the Sponsor Loan for both periods, $ 1,000,000 and approximately $ 798,000 , respectively, outstanding under the 2022 Working”…
The clause …“authorized; 13,366,250 and 1,000,000 shares issued and outstanding (excluding 7,549,677 and 10,251,420 shares subject to possible redemption) as of September 30, 2023 and December 31, 2022, respectively 1,337 (1) 100 Class B common”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
- What changed vs 2023-05-15trust $402.0M → $496.9M +24%deadline 2023-06-28 → 2024-03-28shares 10.3M → 7.55M -26%
trust account, combination deadline, redeemable shares +33 moved · 3 with no prior record of ours
- Trust account
- $402.0M$496.9M
- Combination deadline
- 2023-06-282024-03-28
- Redeemable shares
- 10.3M7.55M
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $1.8M · unchanged
- Mandate language
- the Company intends to focus its search on companies operati… · unchanged
SpacBrain reads this as $94,861,977 was added to the trust between the two filings.
The clause …“overdraft facility 1,247,404 — Purchase of available-for-sale debt securities held in the Trust Account — ( 496,865,556 ) Sale of cash equivalents held in the Trust Account — 496,865,556 Proceeds from the Trust Account to redeem Public”…
SpacBrain reads this as 274 days later than the previous record.
The clause …“(“ASC”) 205-40, Presentation of Financial Statements – Going Concern , we have until March 28, 2024 to consummate the Initial Business Combination. Our mandatory liquidation date, if the Initial Business Combination is not”…
SpacBrain reads this as 2,701,743 shares are no longer redeemable.
The clause …“authorized; 13,366,250 and 1,000,000 shares issued and outstanding (excluding 7,549,677 and 10,251,420 shares subject to possible redemption) as of June 30, 2023 and December 31, 2022, respectively 1,337 (1) 100 Class B common stock, $”…
The clause …“Standards Codification (“ASC”) 205-40, Presentation of Financial Statements – Going Concern , the Company has until March 28, 2024 to consummate the Business Combination. The Company’s mandatory liquidation date, if the Business”…
The clause …“Sponsor. As of June 30, 2023 and December 31, 2022, these amounts included $ 1,750,000 outstanding under the Sponsor Loan for both periods, $ 1,000,000 and approximately $ 798,000 , respectively, outstanding under the 2022 Working”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: CF Acquisition Corp. IV set a completely virtual special meeting for June 22, 2023 at 10:00 a.m. Eastern on an extension amendment. Sponsor CFAC Holdings IV, LLC owns 12,466,250 Class B founder shares, two independent directors each own 16,875 founder shares and a third owns 2,500 private placement shares. If the extension is implemented the sponsor will lend it the lesser of $150,000 per month in aggregate or $0.03 per month for each unredeemed public share, plus that monthly amount for each calendar month if no combination closes by July 28, 2023, running until March 28, 2024. Why it matters: The extension loan mechanics mean the trust grows by at most $0.03 per share a month, roughly 0.3% of a $10 share, so nine months of waiting adds only about 27 cents while the board retains discretion to stop extending at any point. Sponsor advances are loans repayable from the combined company, not gifts to the trust. With 12,466,250 founder shares that hold no claim on the trust, the sponsor's entire return depends on a deal closing, an incentive that diverges sharply from holders who would rather take trust value at this meeting.
What changed vs 2022-12-02trust $12.4M → $402.0M +3130%deadline 2023-06-28 → 2024-03-28sponsor loan $1.8M → $1.8Mtrust account, combination deadline, sponsor loans outstanding3 moved
- Trust account
- $12.4M$402.0M
- Combination deadline
- 2023-06-282024-03-28
- Sponsor loans outstanding
- $1.8M$1.8M
SpacBrain reads this as $389,557,329 was added to the trust between the two filings.
The clause “80 Public Shares were redeemed at $10.11 per share, resulting in a reduction of $402,003,579 in the amount held in the Trust Account. Following such redemptions, approximately $103.6 million remained in the Trust Account. The Board”…
SpacBrain reads this as 274 days later than the previous record.
The clause “Shares (as defined below) if the Corporation is unable to complete its initial Business Combination by March 28, 2024 (or, if the Office of the Delaware Division of Corporations shall not be open for a full business day (including filing”…
SpacBrain reads this as the sponsor has advanced $95,000 more.
The clause “(which consists of $1,750,000 outstanding under the Sponsor Loan, approximately $1,845,000 outstanding under the First Extension Loan and approximately $973,000 outstanding under the 2022 Working Capital Loan), which amount the Company”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
- What changed vs 2022-11-14trust $496.9M → $402.0M -19%deadline 2022-12-28 → 2023-06-28shares 50.0M → 10.3M -79%
trust account, combination deadline, redeemable shares +33 moved · 3 with no prior record of ours
- Trust account
- $496.9M$402.0M
- Combination deadline
- 2022-12-282023-06-28
- Redeemable shares
- 50.0M10.3M
- Sponsor loans outstanding
- not previously extracted$1.8M
- Going-concern doubt
- stated · unchanged
- Mandate language
- the Company intends to focus its search on companies operati… · unchanged
SpacBrain reads this as $94,861,977 left the trust between the two filings.
The clause “0 Public Shares were redeemed at $ 10.11 per share, resulting in a reduction of $ 402,003,579 in the amount held in the Trust Account. Initial Business Combination — The Company’s management has broad discretion with respect to the”…
SpacBrain reads this as 182 days later than the previous record.
The clause …“(“ASC”) 205-40, Presentation of Financial Statements – Going Concern , we have until June 28, 2023 to consummate the Initial Business Combination. Our mandatory liquidation date, if the Initial Business Combination is not”…
SpacBrain reads this as 39,748,580 shares are no longer redeemable.
The clause “0,000,000 shares authorized; 1,000,000 shares issued and outstanding (excluding 10,251,420 shares subject to possible redemption) as of both March 31, 2023 and December 31, 2022 100 100 Class B common stock, $ 0.0001 par value; 40,000,000”…
The clause …“Sponsor. As of March 31, 2023 and December 31, 2022, these amounts included $ 1,750,000 outstanding under the Sponsor Loan for both periods, approximately $ 1,845,000 and approximately $ 461,000 , respectively, outstanding under the”…
The clause …“Standards Codification (“ASC”) 205-40, Presentation of Financial Statements – Going Concern , the Company has until June 28, 2023 to consummate the Business Combination. The Company’s mandatory liquidation date, if the Business”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
Post-close outcome quality: 5 priced deSPACs vs trust value (prior vehicles against the $10.00 IPO baseline, in-DB vehicles against the trust they filed): median -42%, 3/5 still worth at least half of trust, 2 at under a tenth of it. Worst: LIDR -100%. Best: GCMG +39%. 1 more delisted with no surviving quote — scored as a total loss (a known outcome, not a gap), with no % invented. 7 other completion(s) not priced (7 no stored price) — left OUT of the ratio, not guessed.
Mixed record · high confidence
- CF Finance Acquisition Corp I · 2018→ GCM GrosvenorGCMGCompleted
- CF Finance Acquisition Corp II · 2020→ View IncCompleted
- CF Finance Acquisition Corp III · 2020→ AEyeLIDRCompleted
- CF Acquisition Corp VIII · 2021→ XBP GlobalXBPCompleted
- CF Acquisition Corp V · 2021→ SatellogicSATLCompleted
- CF Acquisition Corp VI · 2021→ Rumble / RUM GroupRUMCompleted
- CF Acquisition Corp IV · 2020Liquidated
- CF Acquisition Corp VII · 2021Liquidated
Cantor Fitzgerald — SPAC franchise now led by Brandon Lutnick. Prior-vehicle track record (SEC-verified): (1) CF Finance Acquisition Corp I COMPLETED → GCM Grosvenor (GCMG, 2020; confirmed via joint 425). (2) CF Finance II COMPLETED → View Inc (2021; bankrupt, 25-NSE 2024-04). (3) CF Finance III COMPLETED → AEye (LIDR, Nasdaq). (4) CF Acquisition V COMPLETED → Satellogic (SATL, 2022; confirmed via joint 425). (5) CF Acquisition VI COMPLETED → Rumble, now RUM Group (RUM, Nasdaq). (6) CF Acquisition VIII COMPLETED → XBP Europe, now XBP Global (XBP, Nasdaq). LIQUIDATED (25-NSE + 15-12G): CF Acquisition IV (2023), CF Acquisition VII (2025). Net: 6 completed deSPACs, 2 liquidations (plus the current Cantor Equity Partners fleet). Mixed post-close (Rumble/AEye/XBP/GCM listed; View bankrupt, Satellogic weak). Sources: SEC EDGAR submissions API (formerNames) + full-text search, efts.sec.gov. — research profile — Cantor Fitzgerald's SPAC franchise is led by Brandon G. Lutnick, the 27-year-old Chairman and CEO of Cantor Fitzgerald, L.P., who assumed the role after his father, Howard Lutnick, was confirmed as the 41st U.S. Secretary of Commerce in 2025 and divested his ownership in the firm. Brandon Lutnick, a Stanford graduate who joined Cantor in 2022 in equity sales and trading after beginning his career as a credit analyst at Oak Hill Advisors, serves as Chairman and CEO across the firm's extensive series of blank-check vehicles. He is supported by CFO Jane Novak, the Global Head of Accounting Policy at Cantor, who has served as CFO or former CFO of several Cantor SPACs. His brother Kyle Lutnick serves as Executive Vice Chairman of the holding company. The family ownership transition was structured through trusts for the benefit of Brandon, Kyle, and other adult children, with Brandon as controlling trustee, and minority investments from 26North (founded by Josh Harris) and Glenn August of Oak Hill Advisors. Cantor Fitzgerald acts as sole bookrunner on all its SPAC IPOs, and the firm has formed at least sixteen blank-check companies to date, with vehicles including the Cantor Equity Partners series (CEPO through CAES) and earlier CF Acquisition vehicles. The sponsor's track record reveals a mixed to poor set of de-SPAC outcomes. Among completed mergers, CF Acquisition VIII merged with process automation firm XBP Europe (XBP), which traded 77% below the $10 offer price, and CF Acquisition VI merged with video platform Rumble (RUM) in 2022, down 26% from offer. Cantor Equity Partners merged with bitcoin investment vehicle Twenty One Capital (XXI); the stock initially surged 400% on the announcement but subsequently traded 32% to 40% below the $10 offer price. Cantor Equity Partners III merged with hookah products maker AIR Global (AIIR), which was down 32% from $10. More recently announced but not yet completed deals include Cantor Equity Partners I (CEPO) merging with Bitcoin Standard Treasury Company (BSTR), a bitcoin treasury vehicle involving Blockstream CEO Adam Back contributing up to 30,000 Bitcoin (approximately $3.5 billion) in a deal that could reach $4 billion with up to $800 million in outside capital, and Cantor Equity Partners II (CEPT) merging with asset tokenization platform Securitize. CEPO traded modestly above $10 at +6% and CEPT at +20% following their deal announcements. The firm has aggressively pivoted toward crypto-focused SPACs, with Brandon Lutnick championing what he describes as combining two volatile but compelling asset classes—crypto and SPACs—and the combined bitcoin purchases across BSTR Holdings and Twenty One Capital could approach $10 billion. The most significant red flag surrounding the Cantor SPAC operation is the potential for conflicts of interest arising from…
Full sponsor record →The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
Unit: U = S + W/3 · 100.0% of the $10 unit
from 424B4 0001140361-20-029594
Trading & liquidity
Company profile
Directors & officers
- Novak JaneChief Financial Officer
- LUTNICK HOWARD WChief Executive Officer
- Hochberg RobertDirector
- Bisgay StevenDirector
- Chan AliceChief Financial Officer
- Kaplan Mark EDirector
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
4 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- CFAC HOLDINGS IV, LLCwith 3 other reporting persons on the same schedule21.2% · SC 13DJan 8, 2021 stale
- GLAZER CAPITAL, LLCwith 1 other reporting person on the same schedule0.2% · SC 13G/AJun 12, 2023 stale
- Radcliffe Capital Management, L.P.with 5 other reporting persons on the same schedule0.0% · SC 13G/AFeb 14, 2024 stale
- Beryl Capital Management LLCwith 2 other reporting persons on the same schedule0.0% · SC 13G/AFeb 8, 2024 stale
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
39 full SEC filing texts archived — searchable, never lost.
- Vault note — CFIV (CF ACQUISITION CORP. IV)
vault-note · /vault/tickers/CFIV
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail2 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from the HISTORICAL census (EDGAR's SIC 6770 registrant list, walked in full: 3,325 registrants, 1,167 of which ever priced an IPO). The live discovery job cannot reach this registrant — it reads the filing tape, and this one stopped filing. Admission rule: src/lib/universe-admit.ts. SIC 6770 (Blank Checks); 424B 0001140361-20-029594 priced 2020-12-28; common ticker CFIV off 8-K 0001213900-23-090597 (2023-11-28); lifecycle EXITED. Ending PROVEN, not inferred: LIQUIDATED per Form 25 0001354457-23-000918 (2023-12-07) — Form 25 filed under 17 CFR 240.12d2-2(a)(1) — the rule for a class "called for redemption" or "redeemed or paid at maturity/retirement". For a SPAC that class is the public shares and that redemption is the trust going back (class: Class A common stock, Warrant, Unit). No wind-up press release was readable on the registrant's own file, so the per-share figure is not stored.. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
sponsor "CFAC Holdings IV, LLC" sourced from prospectus definition (10-K/A) acc 0001213900-21-026536.