Fintech Acquisition Corp. IV entered into subscription agreement with existing investor FinTech Investor Holdings IV LLC for issuance of 610,000 units at a price of $10.00 per unit for gross proceeds of up $6,100,000 on September 24, 2020. Each Unit comprised of one share of Class A common stock of the Company and one-third of one warrant to purchase one share of Common Stock. Each whole warrant entitle the holder to purchase an additional common share at a price of $11.5 per share subject to the foregoing, the placement warrants are exercisable during the period commencing on the later of 12 months from the date of the completion of the company’s initial public offering of units and 30 days following the consummation of the company’s initial business combination, as such term is defined in the registration statement filed in connection with the IPO, as amended at the time it becomes effective, and expiring on the fifth anniversary of the consummation of the business combination. The transaction is expected to close on or before December 31, 2020. The securities being issued are subject to a lock up period of 30 days from the consummation of a business combination.