Financial Strategies Acquisition in a proxy filing seeks monthly merger deadline extensions from Dec. 14 up to December 2023. No further approvals would be required if the proposal passes, and the SPAC would have automatic monthly extensions as necessary.
In return, the SPAC’s sponsor would deposit $50,000 (5 cents a share) into trust for each month of the extension period.
The SPAC raised $100 million in a December 2021 IPO to target fintech companies with an equity value of approximately $300 million to $500 million. Read more.
