FinServ Acquisition Corp. II (NASDAQ:FSRX) announced in an 8-K this afternoon that it has signed a non-redemption agreement with one or more unaffiliated third parties.
As part of the agreement, the parties have agreed to not redeem an aggregate of 400,000 shares of FSRX in connection with the SPAC’s upcoming meeting on February 20 to consider an extension. FinServ II currently has a completion deadline of February 22, but intends to extend it to August 22.
In exchange for not redeeming their shares, FinServ’s sponsor has agreed to transfer 100,000 shares to the third parties immediately following the completion of a business combination.
Additionally, the SPAC has agreed that the funds held in its trust, including any interest, will not be used to pay for any excise tax liabilities with respect to any future redemptions prior to or in connection with the extension or a liquidation. FinServ intends to do this in an effort to mitigate the current uncertainty surrounding the implementation of the Inflation Reduction Act of 2022.
As of February 22, the pro rata portion of the funds available in its trust for the redemption will be approximately $10.15.
This non-redemption agreement is not expected to increase the likelihood of the approval of FinServ’s extension proposal, but it is expected to increase the amount of funds that remain in its trust following the meeting.
The SPAC announced the pricing of its upsized $265 million IPO, but has not found a target to combine with just yet. It hopes to combine with a fintech business valued between $500 million and $2 billion that is disrupting traditional services.
Cantor Equity Partners I (NASDAQ:CEPO) has entered into a definitive agreement to combine with Bitcoin Standard Treasury in a transaction that is worth about $4.8 billion. Bitcoin Standard Treasury aims to bring in capital from a number of equity instruments to build up one of the largest US-listed Bitcoin treasuries. The combined company is expected...
At the SPAC of Dawn Several de-SPACs have made market-moving announcements recently and they haven’t forgotten to cash in on them. Fresh off of announcing $500 million strategic investment and partnership with Apple (NASDAQ:AAPL), rare earth miner MP Materials (NYSE:MP) has followed that up with a $500 million public offering, netting the company a cool...
Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...
At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...
Solarius Capital Acquisition Corp. (NASDAQ:SOCAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SOCAU”, Wednesday, July 16, 2025. The new SPAC plans to combine with a target in the asset management, wealth management or financial services industries. Solarius Capital’s management team...