FinTech Evolution Acquisition Group Announces Liquidation
25 2월 2023 - 6:55AM
FinTech Evolution Acquisition Group (the “Company”) (NYSE: FTEV),
announced today that due to its inability to consummate an initial
business combination within the time period required by its amended
and restated memorandum and articles of association (the
“Charter”), the Board of Directors of the Company has elected to
dissolve and liquidate the Company in accordance with the
provisions of its Charter, and will redeem all of the outstanding
Class A ordinary shares that were included in the units issued
in its initial public offering (the “Public Shares”), at a
per-share redemption price currently estimated to be approximately
$10.18.
As of the close of business on March 13, 2023,
the Public Shares will be deemed cancelled and will represent only
the right to receive the redemption amount. The Company anticipates
that the last day the Public Shares will trade is March 3, 2023.
Trading of Public Shares will be suspended effective before the
opening of markets on March 6, 2023.
In order to provide for the disbursement of
funds from the trust account, the Company will instruct the trustee
of the trust account to take all necessary actions to liquidate the
securities held in the trust account. The proceeds of the trust
account will be held in a non-interest bearing account
while awaiting disbursement to the holders of the Public Shares.
Record holders will receive their pro rata portion of the
proceeds of the trust account by delivering their Public Shares to
Continental Stock Transfer & Trust Company, the Company’s
transfer agent. Beneficial owners of Public Shares held in
“street name,” however, will not need to take any action in order
to receive the redemption amount. The redemption of the Public
Shares is expected to be completed within ten business days after
March 13, 2023.
The Company’s sponsor has agreed to waive its
redemption rights with respect to its outstanding Class B
ordinary shares issued prior to the Company’s initial public
offering. There will be no redemption rights or liquidating
distributions with respect to the Company’s warrants, which will
expire worthless.
About FinTech Evolution Acquisition Group
FinTech Evolution Acquisition Group is a
blank check company formed for the purpose of effecting a merger,
share exchange, asset acquisition, share purchase, reorganization
or similar business combination with one or more businesses. While
the Company may pursue an initial business combination target in
any business or industry, it intends to focus its efforts on
Financial Technology and technology-enabled services (“FinTech”)
businesses that offer specific technology solutions, broader
technology software, or services/products to the financial services
industry.
Forward-Looking Statements
This press release may include, and oral
statements made from time to time by representatives of the Company
may include, “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Statements
other than statements of historical fact included in this press
release are forward-looking statements. When used in this press
release, words such as “anticipate,” “believe,” “continue,”
“could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,”
“possible,” “potential,” “predict,” “project,” “should,” “would”
and similar expressions, as they relate to us or our management
team, identify forward-looking statements. Such forward-looking
statements are based on the beliefs of management, as well as
assumptions made by, and information currently available to, the
Company’s management. Actual results could differ materially from
those contemplated by the forward-looking statements as a result of
certain factors detailed in the Company’s filings with the
Securities and Exchange Commission (“SEC”). All subsequent written
or oral forward-looking statements attributable to us or persons
acting on our behalf are qualified in their entirety by this
paragraph. Forward-looking statements are subject to numerous
conditions, many of which are beyond the control of the Company,
including those set forth in the Risk Factors section of the
Company’s registration statement and prospectus for the Company’s
initial public offering filed with the SEC. The Company undertakes
no obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
Contact:
Rohit Bhagat/Michael
Latham650.739.6741rohit@fintechevolution.net/mike@fintechevolution.net
FinTech Evolution Acquis... (NYSE:FTEV.U)
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FinTech Evolution Acquis... (NYSE:FTEV.U)
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