CF Acquisition VIII in an 8-K said shareholders voted in favor of combining with Exela Technologies Europe, which will be renamed XBP Europe Holdings before shares start listing on the Nasdaq.
The SPAC did not disclose redemptions, if any, though it had already lost about 94% of its trust to cash-outs since it raised $220 million in a March 2021 IPO. Sponsored by Cantor Fitzgerald, the SPAC went into the vote with about $15.4 milllion cash in trust. There was no minimum cash condition to close.
The regulatory filing does not state when the merger is expected to be finalized.
XBP Europe is a pan-European integrator of bills and payments connecting buyers and suppliers, across industries and sizes, to optimize the clients’ bills and payment processes in order to advance digital transformation, improve market wide liquidity and encourage sustainable business practices. Read more.
