CF Acquisition Corp. VIII (NASDAQ:CFFE) announced this afternoon that it has completed its combination with B2B software firm Exela Technology’s European operations.
Although shareholders had previously approved the deal during a special meeting on August 24, no specific timeline for its next steps had been disclosed at that time. Additionally, a proposal was passed at the meeting to change the combined company’s name to XBP Europe Holdings.
In total, including previous shareholder votes, shareholders opted to redeem 99.85% of CFFE’s trust, resulting in only 36,658 shares remaining outstanding. While heading into the completion vote, the trust held an estimated $15.4 million, but following the vote, it was significantly reduced to less than $500,000. Notably, CF VIII didn’t have a minimum cash condition to hit.
Going forward, the combined company will operate as XBP Europe and, beginning on November 30, its shares and warrants will trade on the Nasdaq under the ticker symbol “XBP” and “XBPEW”, respectively.
CF VIII and Exela initially announced their combination in October 2022. Irving Texas-based Exela provides bill-payment and business process automation software to large and small enterprises. Earlier this year, Exela reported it generated $272.9 million in revenue in the second quarter of 2023 with $40.9 million in EBITDA for increases of 2.3% and 12.1%, respectively, compared with the same period the prior year.
Cantor Equity Partners III Inc. (NASDAQ:CAEP) announced the pricing of its upsized $240 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “CAEP”, Thursday, June 27, 2025. The new SPAC plans to combine with a target company in an industry where its management has relevant expertise such financial...
Launch One (NASDAQ:LPAA) has entered into a definitive agreement to combine with biotech firm Minovia Therapeutics at a $180 million pre-money valuation. Haifa, Israel-based Minovia is developing a drug platform based on mitochondrial cell therapies to potentially treat rare disorders as well as the effects of aging and other causes of bodily degeneration. The combined...
CEO Marc Nemati and Colombier II’s Omeed Malik break down the deal and the strategy. Despite its moniker as the “the everything store” you can’t buy everything on Amazon, and firearms are one of those things. But, GrabAGun has spent years building a platform for regulated online firearms purchases, and soon, consumers will be able...
At the SPAC of Dawn Futures remain green after Fed Chairman Jerome Powell hinted at a July rate cut and tensions cooled for now in the Middle East. That has not warmed all corners of the SPAC market as teams continue to hit bumps in their shareholder votes this week. Four Leaf (NASDAQ:FORL) was the...
Lightwave Acquisition Corp. (NASDAQ:LWACU) announced the pricing of its $187.5 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “LWACU”, Wednesday, June 25, 2025. The new SPAC plans to combine with a technology target or another industry that complements its management team’s background. Lightwave’s management team is led...