Figure Acquisition I today said it is in discussions with a large warehouse lender and bank holding company with nationwide residential mortgage lending and servicing operations regarding a potential merger. The SPAC and the bank have signed a non-binding letter of intent for a potential deal.
The bank is a privately held, $3-5 billion asset holding company that provides home loans to communities across the United States.
The press release included a reminder to stockholders that Figure I is seeking approval of an extension of time to complete a business combination, from Feb. 23 to Aug. 23. Stockholders who wish to withdraw their previously submitted redemption request may do so before 5 p.m. Eastern time on Dec. 14, the SPAC said. Read more.
