Fusion Acquisition II in an 8-K said it has signed a non-redemption agreement with a third-party investor who has agreed to hold onto 220,000 shares. In return Fusion II’s sponsor will give the investor 55,500 Class B shares.
The SPAC raised $500 million in a February 2021 IPO. Although it has yet to announce a deal, the SPAC is focused on businesses with an enterprise value of approximately $1.5 billion to $5 billion that are providing or changing technology within the fintech or wealth, investment and asset management sectors.
Fusion II last week said it intends to adjourn, without conducting any business, the shareholder meeting set for Aug. 30 and reconvene Sept. 1, when shareholders are expected to vote on a proposal to extend the SPAC’s termination deadline from Sept. 2 to March 2, 2024. Read more.
