CF Acquisition Corp. VIII (CFFE) Shareholders Approve Exela Deal
by Nicholas Alan Clayton on 2023-08-28 at 7:46am

CF VIII (NASDAQ:CFFE) announced in an 8-K this morning that its shareholders voted to approve its combination with B2B software firm Exela at a special meeting August 24.

The SPAC has not yet shared its redemption figures from the vote, but had already dispersed about 94.2% of its trust through earlier extension votes. It went into the completion vote with an estimated $15.4 million in trust and it did not have a minimum cash condition to hit.

Shareholders also approved a proposal to change the company’s name to XBP Europe Holdings and the combined company’s are expected to trade on the Nasdaq under the symbol “XBP” once the deal is closed. However, the parties have not yet announced a timeline for these next steps.

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 month, 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 last year.

CF Acquisition Corp. VIII (CFFE) Shareholders Approve Exela Deal
Recent Posts
by Nicholas Alan Clayton on 2025-07-15 at 10:47am

Exciting new things are coming for SPACInsider subscribers, and some have already arrived! This summer, SPACInsider is unveiling the SPACInsider Alerts App on iOS with an Android launch soon to follow. The app allows subscribers to stay ahead of the SPAC market with real-time, customizable filing alerts with instant notifications landing the moment that a...

by Nicholas Alan Clayton on 2025-07-15 at 8:29am

At the SPAC of Dawn Futures are largely green with the CPI reading coming up, and several SPACs and de-SPACs have cause to feel bullish regardless of what the reading states. Pharma and beauty company Longevity Health (NASDAQ:XAGE) announced it will acquire plasma collection firm True Health ahead of market open in news that has...

by Kristi Marvin on 2025-07-15 at 6:06am

Silver Pegasus Acquisition Corp. (NASDAQ:SPEGU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SPEGU”, Tuesday, July 15, 2025. The new SPAC plans to search within the technology sector, with a focus on semiconductors and systems solutions. Silver Pegasus Acquisition Corp.’s management...

by Nicholas Alan Clayton on 2025-07-14 at 12:51pm

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...

by Nicholas Alan Clayton on 2025-07-14 at 11:13am

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...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved