Fintech Ecosystem Development Corp. (NASDAQ:FEXD) announced that it will adjourn tomorrow’s extension vote and will reconvene the meeting at 10:00 am ET on April 20 in order to change the terms of the extension proposal.
In connection with the adjournment of the special meeting, Fintech Ecosystem is also extending the redemption deadline to 5:00 p.m. ET on April 18.
The SPAC intends to use this additional time to amend the terms of its extension proposal. Instead of the sponsor depositing an aggregate of $0.055 for each share that is not redeemed, it will now be changed to the lesser of $0.055 for each share not redeemed and an aggregate of $110,000.
As a result of this change, stockholders redeeming their shares after the extension may receive an amount per share that is less than they would have otherwise received under the original proposal.
Fintech Ecosystem is currently facing a completion deadline of April 21, 2023, but is hoping to gain shareholder approval to extend its timeline by a maximum of twelve additional one-month periods for a new deadline of April 21, 2024.
It announced its $198 million business combination with financial services providers Rana and Mobitech in September 2022. Rana and Mobitech provide digital borrowing and money transfer services to customers in Brazil and India, respectively.
Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...
Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...
This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR). Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to...
At the SPAC of Dawn The market still has one full trading session before it adds Tuesday’s Core CPI reading and a variety of Fed comments to messaging it is already ingesting on US President Donald Trump’s ever-shifting tariff policy. SPACs are meanwhile continuing on with business as usual, with Cayson (NASDAQ:CAPN) announcing the third...
Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...