Frontier Investment Corp. (FICV) Adjourns Extension Vote Again
by Marlena Haddad on 2023-06-20 at 4:08pm

Frontier Investment Corp. (NASDAQ: FICV) announced this afternoon that it has once again decided to adjourn its special meeting.

Initially planned for June 16, the extension meeting was adjourned by Frontier Investment’s chairman until June 22, but is now being further delayed until June 29 at 9:00 a.m. ET.

As a result of the postponement, the redemption deadline will also be extended until June 27.

Frontier Investment Corp. has a deadline of July 6, 2023, to finalize a business combination. However, the company is seeking shareholder approval at its upcoming meeting to extend this timeline by one year, allowing it until July 6, 2024, to complete a transaction.

Shareholders will also vote on proposals to remove the net tangible asset requirement and to provide the right of a holder of the company’s Class B ordinary shares to convert into Class A ordinary shares on a one-for-one basis at any time. If the net tangible asset requirement proposal is not approved, then the SPAC will not proceed with the extension.

Frontier priced its $200 million IPO in July 2021. Although it has yet to find a suitable target to combine with, the company intends to identify a business operating in the technology, digital media, e-commerce, financial technology, or digital services sectors. It specifically aims to target high-growth markets in the Middle East, North Africa & Turkey, Sub-Saharan Africa, South Asia, and Southeast Asia for potential opportunities.

The company is led by CEO and Chairman Asar Mashkoor, and CFO Arif Mansuri.

Recent Posts
by Kristi Marvin on 2023-12-02 at 11:45am

Terms Tracker for the Week Ending December 1, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. For the most part, this was a quiet week for filings being that it followed the Thanksgiving holiday. Ideally, bankers, lawyers and teams got a...

by Marlena Haddad on 2023-12-01 at 5:39pm

Aimei Health Technology Co., Ltd (NASDAQ: AFJKU) announced the pricing of its $60 million IPO this evening. Its units are expected to begin trading on the Nasdaq under the symbol “AFJKU” on Monday, December 4, 2023. After the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to...

by Marlena Haddad on 2023-12-01 at 4:43pm

PROOF Acquisition Corp I (NYSE: PACI) announced this afternoon that it has closed its business combination with private aviation company Volato after shareholders approved the deal at a meeting on November 28. In total, including previous shareholder votes, shareholders opted to redeem an aggregate of 99.93% of PACI’s trust, leaving it with less than $215,000...

by Marlena Haddad on 2023-12-01 at 9:34am

Adit EdTech (NYSE: ADEX) announced this morning that its shareholders have approved its business combination with bitcoin self-mining company Griid Infrastructure at a special meeting held yesterday, November 30. A total of 8,520,710 shares of common stock, representing approximately 95.7% of the outstanding shares entitled to vote, were present at the meeting, constituting a quorum...

by Nicholas Alan Clayton on 2023-12-01 at 7:49am

At the SPAC of Dawn There had been hopes that this week would take one world conflict off the board, but combat has resumed in the Middle East as other eyes are likely to be fixed on new Fed comments today. The fighting in Gaza continues to not appear to have appreciable affects on the...


Copyright © 2023 SPACInsider, Inc. All Rights Reserved