FTAC Zeus Acquisition announced that today’s stockholder meeting is being postponed until Dec. 14. The company said it decided to postpone the meeting in light of the amount of redemption requests it had received, without specifiying the amount.
The SPAC in a proxy filing last month said it would seek shareholder approval to wind up operations 60 days ahead of its current termination date on May 23, 2023, or by Aug. 23 next year if the SPAC has executed a letter of intent for a deal but has failed to close.
Fintech-focused FTAC Zeus raised $402.5 million in a November 2021 IPO.
The SPAC in the latest press release said next week’s rescheduled meeting will be cancelled if redemptions cause the trust to fall below $125 million.
Chairman Daniel Cohen has overseen multiple SPACs and is chairman of Cohen & Company. Since September 2013 he has served as president and CEO of the company’s European business. Read more.
