CF Acquisition Corp VIII is a SPAC — a blank check shell company with no operations or revenue — formed to raise capital through an IPO and use those funds to acquire a private company, effectively taking it public. The company raised $225M in its IPO in January 2026, which is held in a trust account invested in U.S. Treasuries or money market funds while management searches for a target. The management team has backgrounds at Millennium, JP Morgan, SAC Capital, Saba Capital, and the Federal Reserve Bank of New York, and is focused on finding a target in financial services, broadly defined to include banks, asset managers, specialty finance companies, and fintech firms. The company has 24 months from its IPO close to complete an acquisition, or it must return trust funds to public shareholders. The sponsor paid $25,000 for founder shares representing a ~20% stake, creating substantial upside if a deal closes. Public shareholders invested $10.00 per share and retain the right to redeem at roughly $10.00 plus trust interest if they dislike the eventual deal. Warrants allow holders to buy Class A shares at $11.50, providing upside if the post-deal stock performs well. The sponsor also purchased $5.375M in private placement warrants, proceeds from which were placed into the trust.