Fintech II Completes Merger with InterMex: To Be Renamed International Money Express, Inc.
Fintech Acquisition Corp. II, has released the results of its shareholder vote to approve FNTE’s previously announced merger transaction with Intermex Holdings II, Inc., a portfolio company of Stella Point Capital, LP. The merged company will be renamed International Money Express, Inc. and is expected to continue to be listed on the Nasdaq Stock Market.
Total shares of common stock exercising redemption rights were 5,038,232. The release did not give a pro rata per share amount for redemptions, but as of the most recent proxy filing estimate of $10.05, I would peg the total amount coming out of trust at roughly $51 million. Additionally, $175.8 million was estimated to be held in trust, so that still leaves the company with approximately $125 million before closing fees and expenses (a condition to closing).
| FOR | AGAINST | ABSTENTIONS | BROKER NON-VOTES |
| 20,193,022 | 13,521 | 0 | 0 |
Fintech II expects the merger to close on July 26, 2018. Results of the business combination vote are listed below and you can also find the results of the other proposals included in the vote here.
Congratulations to all.
Advisors:
- Cantor Fitzgerald & Co., JMP Securities and Northland Securities, Inc. are acting as Capital Markets Advisors to FNTE
- JMP Securities is also acting as Financial Advisor to FNTE
- Ledgewood is acting as legal counsel to FNTE
- Fried, Frank, Harris, Shriver & Jacobson LLP is acting as legal counsel to Intermex
- Brenner Kaprosy Mitchell, LLP is acting as legal counsel to Intermex’s management
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...
Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing...