INFINT Acquisition in an 8-K said shareholders approved a six-month deadline extension to Feb. 23,2024, providing more time for the SPAC to finalize its deal with global fintech platform Seamless Group.
Redemptions removed about 23% of the cash in trust, leaving $81.8 million, according to the filing.
At deal announcement a year ago, the combined company was expected to have up to $189 million of cash on its balance sheet following the transaction. The deal was also expected to close in the first quarter of this year.
Seamless deposited nearly $3 million into the SPAC’s trust last November for the first extension.
The Seamless global fintech banking platform operates in more than 150 countries. Read more.
