Abri SPAC I in a filing said it borrowed $300,000 from its sponsor for general working capital. The non-interest bearing loan will be used as the company works toward completion of its proposed merger with Apifiny Group, a global cross-exchange digital asset trading network based in New York.
Terms of the transaction as announced in January call for the contribution of up to $57 million of cash held in Abri’s trust account, subject to redemptions.
Apifiny stockholders are expected to roll 100% of their equity into the combined company. Abri and Apifiny have each agreed that the combined company will satisfy all Nasdaq listing requirements at the close of the business combination and no specific minimum cash requirement exists. Read more.
