Financial Strategies Acquisition in an 8-K filing said its shareholder meeting to vote on a deadline extension has been pushed back to Friday. The vote on whether to extend the SPAC’s merger deadline by up to 12 months had been scheduled for tomorrow.
Additionally, the SPAC disclosed that 9,607,982 shares had been redeemed ahead of the vote at approximately $10.14 per share, or $97.4 million.
The SPAC raised $100 million in a December 2021 IPO to target fintech companies with an equity value of approximately $300 million to $500 million.
Management in the filing said they would work to solicit redemption reversals ahead of the vote this Friday. Read more.
