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Finnovate Acquisition Corp (Nasdaq: FNVT, FNVTU, FNVTW) announced changes to its upcoming extraordinary general meeting and sponsor contributions. The Sponsor will contribute $0.05 per unredeemed Class A ordinary share monthly from November 8, 2024, to May 8, 2025, to support the extension period for completing an initial business combination. If extended to May 2025, this would increase the redemption amount to approximately $11.91 per unredeemed share, up from the current $11.61. The Special Meeting has been postponed to November 6, 2024, at 10:00 AM ET, with a new redemption deadline of November 4, 2024, at 5:00 PM ET.
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Finnovate Acquisition Corp. (Nasdaq: FNVTU) has successfully completed the sale of an additional 2,250,000 units, raising $22,500,000 in gross proceeds as part of its initial public offering (IPO). The total raised from the offering now stands at $172,500,000, following the sale of 17,250,000 units at $10.00 each. Each unit includes one Class A ordinary share and three-quarters of a redeemable warrant, with warrants exercisable at $11.50 per share. The units are listed on Nasdaq, with shares and warrants expected to trade under the symbols FNVT and FNVTW, respectively.
Finnovate Acquisition Corp. has priced its IPO at $10.00 per unit, aiming to raise $150 million through the issuance of 15,000,000 units. The units will trade on Nasdaq under the symbol 'FNVTU', with trading expected to commence on November 4, 2021. Each unit consists of one Class A common stock share and three-quarters of one redeemable warrant, exercisable at $11.50 per share. The offering may include an additional 2,250,000 units if underwriters exercise their over-allotment option. The offering's closing is set for around November 8, 2021.