Financial Strategies Acquisition Puts Another Month on the Clock

Financial Strategies Acquisition extended its termination deadline by one month to Aug. 14.

In return for the extra time, Temmelig Investor, an affiliate of the SPAC’s co-sponsors, has deposited $50,000 into trust (about 8.1 cents a share).

The SPAC earlier this month avoided a Nasdaq delisting and described the challenges that it has faced while trying to complete a merger with a Brazilian company — highlighting its efforts to find a suitable candidate to complete a merger.

Financial Strategies Acquisition has a deal pending with Austin Biosciences. Assuming no redemptions, the market capitalization of the combined companies will be approximately $166.3 million. Read more.

 

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