INFINT Acquisition in a proxy filing wants another six months to finalize and complete its proposed dmerger with Seamless, a global fintech platform. The current extension approved in February runs out Aug. 23.
If the latest extension request is approved, the SPAC would have until Feb. 23 to get the deal done.
The Seamless banking platform operates in more than 150 countries.
INFINT’s sponsor has been depositing the lesser of $290,000 or 6 cents a share into trust over the last six months.
At deal announcement in August 2022, which assumed no redemptions by INFINT shareholders, Seamless was expected to have up to $189 million of cash on its balance sheet following the transaction. Read more.
