Fintech Acquisition Corp. II Shareholders Approve Business Combination
by Kristi Marvin on 2018-07-23 at 5:22pm

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).

FORAGAINSTABSTENTIONSBROKER NON-VOTES
20,193,02213,52100

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

 

Recent Posts
by Nicholas Alan Clayton on 2024-03-28 at 1:35pm

News and Rumors PR: Bannix (NASDAQ:BNIX) has provided more information on the combination with VisionWave that it announced yesterday, specifying that the imaging technology that VisionWave will acquire from GBT Technologies will primarily seek out applications in military combat scenarios and geological surveys. PR: Grove Collaborative (NYSE:GROV), which combined with Virgin Group II in June...

by Nicholas Alan Clayton on 2024-03-28 at 7:47am

At the SPAC of Dawn Fed Chair Jerome Powell has given new hints that the administration would be showing greater levels of comfort with inflation if a cut could help improve unemployment numbers. Those numbers could get an update today at 8:30 am ET to bring new jobless claims as well as final prices for...

by Nicholas Alan Clayton on 2024-03-27 at 1:31pm

News and Rumors CNBC: Former WeWork (OTC Pink:WEWKQ) founder Adam Neumann has offered to buy back control of the company for $500 million but has yet to secure the necessary financing. WeWork went public with BowX in October 2021. PR: Satellite telecom firm Spire Global (NYSE:SPIR) has signed an agreement to build and launch two...

by Nicholas Alan Clayton on 2024-03-27 at 11:38am

Bannix (NASDAQ:BNIX) has entered into a definitive agreement to combine with VisionWave Technologies for $30 million. The combined company is expected to trade on the Nasdaq once the deal is completed with an initial outside date of September 14. Transaction Overview Bannix has about $17 million in its trust after seeing 77.4% of its shares...

by Nicholas Alan Clayton on 2024-03-27 at 7:33am

At the SPAC of Dawn Much of the attention yesterday was on tracking the swings of the newly-completed Trump Media (NASDAQ:DJT) deal with the FT going as far to suggest it may “make SPACs great again.” Not all of the day’s data points were on the positive side of the ledger, however. IB Acquisition Corp....

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved