FinTech Acquisition Corp. V Proclaims it Will Redeem its Public Stocks

PHILADELPHIA, PA, Nov. 18, 2022 (GLOBE NEWSWIRE) —  FinTech Acquisition Corp. V (NASDAQ:FTCV) (the “Corporate”), a blank-check corporate shaped for the aim of obtaining or merging with a number of companies, as of late introduced that, since the Corporate is not going to consummate an preliminary trade mixture inside the time frame required by way of its Amended and Restated Certificates of Incorporation (the “Constitution”), the Corporate intends to dissolve and liquidate based on the provisions of the Constitution, efficient as of the shut of commercial on December 9, 2022, and can redeem the entire remarkable stocks of Elegance A commonplace inventory that had been incorporated within the devices issued in its preliminary public providing (the “Public Stocks”), at a per-share redemption value of roughly $10.08.

As of the shut of commercial on December 9, 2022, the Public Stocks will likely be deemed cancelled and can constitute best the correct to obtain the redemption quantity.

So as to supply for the disbursement of price range from the believe account, the Corporate will instruct the trustee of the believe account to take all important movements to liquidate the securities held within the believe account. The proceeds of the believe account will likely be held in a non-interest bearing account whilst anticipating disbursement to the holders of the Public Stocks. Document holders will obtain their professional rata portion of the proceeds of the believe account, much less $100,000 of curiosity to pay dissolution bills and internet of taxes payable, by way of handing over their Public Stocks to Continental Inventory Switch & Accept as true with Corporate, the Corporate’s switch agent. Really helpful house owners of Public Stocks held in “boulevard identify,” alternatively, is not going to want to take any motion with a purpose to obtain the redemption quantity. The redemption of the Public Stocks is predicted to be finished inside ten trade days after December 9, 2022.

The Corporate’s sponsors have agreed to waive their redemption rights with admire to their remarkable stocks of Elegance B commonplace inventory issued previous to the Corporate’s preliminary public providing. There will likely be no redemption rights or liquidating distributions with admire to the Corporate’s warrants, which is able to expire nugatory.

The Corporate expects that the Nasdaq Inventory Marketplace LLC will report a Shape 25 with the USA Securities and Trade Fee (the “Fee”) to delist the Corporate’s securities. The Corporate thereafter expects to report a Shape 15 with the Fee to terminate the registration of its securities underneath the Securities Trade Act of 1934, as amended. The Corporate anticipates that the Public Stocks, in addition to the Corporate’s publicly traded devices and warrants, will stop buying and selling as of the shut of commercial on December 8, 2022.

Ahead-Having a look Statements

This press unencumber incorporates statements that represent “forward-looking statements.” Ahead-looking statements are matter to a lot of stipulations, lots of that are past the keep watch over of the Corporate, together with the ones set forth within the Possibility Components phase of the Corporate’s annual document on Shape 10-Ok filed with the Fee and next stories filed with the Fee, as amended now and again. Copies of those paperwork are to be had at the Fee’s web page, at www.sec.gov. The Corporate undertakes no legal responsibility to replace those statements for revisions or adjustments after the date of this unencumber, apart from as required by way of legislation.

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FinTech Acquisition Corp. V
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