INFINT Acquisition Corporation Announces Closing of Initial Public Offering and Exercise of Full Over-Allotment Option
November 23 2021 - 4:03PM
Business Wire
INFINT Acquisition Corporation (the "Company") announced today
the closing of its initial public offering of 17,391,200 units at
$10.00 per unit. Each unit consists of one of the Company’s Class A
ordinary shares and one-half of one redeemable warrant. Each
warrant entitles the holder thereof to purchase one Class A
ordinary share at a price of $11.50 per share. The underwriters
exercised their over-allotment option in full for an additional
2,608,680 units at the time of the closing of the Offering. As a
result, the aggregate gross proceeds of the offering, including the
over-allotment, are $199,998,800, prior to deducting underwriting
discounts, commissions, and other offering expenses.
The units have been listed on the New York Stock Exchange
(“NYSE”) and began trading on November 19, 2021, under the ticker
symbol “IFIN.U”. Once the securities comprising the units begin
separate trading, the Class A ordinary shares and warrants are
expected to be listed on the NYSE under the symbols “IFIN” and
“IFIN.WS”, respectively.
The Company is a blank check company formed for the purpose of
effecting a merger, capital 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 on the financial software and information services
companies operating at the intersection of the financial and
business services sectors (“financial technology”). The Company is
led by its Chief Executive Officer, Sasha Edgarov.
EF Hutton, division of Benchmark Investments, LLC, acted as the
lead book-running manager and JonesTrading Institutional Services
acted as joint book-running manager on the offering.
K&L Gates LLP served as legal counsel to the Company. Ortoli
Rosenstadt LLP served as legal counsel to EF Hutton.
The offering was made only by means of a prospectus. Copies of
the prospectus may be obtained from EF Hutton, division of
Benchmark Investments, LLC, 590 Madison Ave., 39th Floor, New York,
NY 10022, Attention: Syndicate Department, or via email at
syndicate@efhuttongroup.com or telephone at (212) 404-7002.
The Securities and Exchange Commission ("SEC") declared
effective a registration statement on Form S-1 relating to these
securities on November 18, 2021, and a registration statement on
Form S-1MEF (File No. 333-261199), was filed with the SEC on the
same date and became effective upon filing. A final prospectus
relating to this offering has been filed with the SEC. This press
release shall not constitute an offer to sell or the solicitation
of an offer to buy any of the securities described herein, nor
shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
Company's initial public offering and the anticipated use of the
net proceeds thereof. 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 final prospectus for the
offering filed with the SEC. Copies are available on the SEC's
website, www.sec.gov. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20211123006147/en/
INFINT Acquisition Corporation 32 Broadway, Suite 401 New York,
NY 10004 Sasha Edgarov Chief Executive Officer sasha@infintspac.com
(212) 287-5010
InFinT Acquisition (NYSE:IFIN.U)
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