Fintech Ecosystem Development Pours $49K Into Trust to Continue Work on Mobitech International Deal

Fintech Ecosystem Development said $49,319.42 was deposited into its shareholde trust account to move its completion date to June 21.

The SPAC has a pending deal with Mobitech International (dba Afinoz), at an implied $120 million enterprise value. The SPAC raised $100 million in an October 2021 IPO.

Shareholders in April approved monthly extensions up to Oct. 21. The SPAC raised $100 million in an Ocgober 2021 IPO.

Mobitech is developing a global digital financial ecosystem to allow consumers and businesses to use mobile devices and the Internet to efficiently perform financial transactions. Read more.

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