INFINT Acquisition Corporation (NYSE: IFIN, IFIN.WS)
(“
INFINT” or the “
Company”)
announced today that, in connection with its previously announced
extraordinary general meeting of shareholders of the Company to be
held at 12:00 p.m. Eastern Time on August 18, 2023 (the
“
Extraordinary Meeting”) for the purpose of
considering and voting on, among other proposals, a proposal to
extend the date by which the Company must consummate an initial
business combination (the “
Extension”) from August
23, 2023 (the “
Current Termination Date”) to
February 23, 2024 or such earlier date as may be determined by the
Company’s board of directors, in its sole discretion (such later
date, the “
Extension Date”), additional
contributions to the Company’s trust account will be made following
the approval and implementation of the Extension.
If the requisite shareholder proposals are
approved at the Extraordinary Meeting and the Extension is
implemented, on the Current Termination Date, and the 23rd day of
each subsequent calendar month until the Extension Date, the lesser
of (x) $160,000 and (y) $0.04 per public share multiplied by the
number of public shares outstanding on such applicable date (each
date on which a Contribution is to be deposited into the trust
account, a “Contribution Date”) will be deposited
into the Company’s trust account (a
“Contribution”).
If a Contribution is not made by an applicable
Contribution Date, the Company will liquidate and dissolve as soon
as practicable after such date and in accordance with the Company’s
Amended and Restated Memorandum and Articles of Association, as
amended. Any Contribution is conditioned on the approval of the
requisite shareholder proposals at the Extraordinary Meeting and
the implementation of the Extension. No Contribution will occur if
such proposals are not approved or the Extension is not
implemented. If the Company has consummated an initial business
combination or announced its intention to commence winding up prior
to any Contribution Date, any obligation to make Contributions will
terminate.
The Company expects that the proceeds held in
the trust account will continue to be invested in United States
government treasury bills with a maturity of 185 days or less or in
money market funds investing solely in U.S. Treasuries and meeting
certain conditions under Rule 2a-7 under the Investment Company Act
of 1940, as amended, as determined by the Company, or in an
interest bearing demand deposit account, until the earlier of: (i)
the completion of the Company’s initial business combination, and
(ii) the liquidation of, and distribution of the proceeds from, the
trust account.
Further information related to attendance,
voting and the proposals to be considered and voted on at the
Extraordinary Meeting is described in the definitive proxy
statement related to the Extraordinary Meeting filed by the Company
with the Securities and Exchange Commission (the
“SEC”) on August 2, 2023(the “Definitive
Proxy Statement”).
About INFINT Acquisition
Corporation
INFINT Acquisition Corporation is a Special
Purpose Acquisition Corporation (SPAC) company on a mission to
bring the most promising financial technology company from North
America, Asia, Latin America, Europe and Israel to the U.S. public
market. As a result of the pandemic, the world is changing rapidly,
and in unique, unexpected ways. Thanks to growth and investment in
the global digital infrastructure, legal, healthcare, automotive,
financial, and other fields are evolving at a faster rate than ever
before. INFINT believes the greatest opportunities in the near
future lie in the global fintech space and are looking forward to
merging with an exceptional international fintech company. On
August 3, 2022, INFINT entered into a definitive business
combination agreement with Seamless Group Inc., a Cayman Islands
exempted company and a global fintech platform, and FINTECH Merger
Sub Corp., a Cayman Islands exempted company and a wholly owned
subsidiary of INFINT.
Forward Looking Statements
This press release includes “forward-looking
statements” within the meaning of the safe harbor provisions of the
United States Private Securities Litigation Reform Act of 1995.
Certain of these forward-looking statements can be identified by
the use of words such as “believes,” “expects,” “intends,” “plans,”
“estimates,” “assumes,” “may,” “should,” “will,” “seeks,” or other
similar expressions. Such statements may include, but are not
limited to, statements regarding the approval of certain
shareholder proposals at the Extraordinary Meeting, the
implementation of the Extension or any Contributions to the trust
account. These statements are based on current expectations on the
date of this press release and involve a number of risks and
uncertainties that may cause actual results to differ
significantly, including those risks set forth in the Definitive
Proxy Statement, the Company’s most recent Annual Report on Form
10-K and subsequent Quarterly Reports on Form 10-Q and other
documents filed with the SEC. Copies of such filings are available
on the SEC’s website at www.sec.gov. The Company does not assume
any obligation to update or revise any such forward-looking
statements, whether as the result of new developments or otherwise.
Readers are cautioned not to put undue reliance on forward-looking
statements.
Additional Information and Where to Find
It
The Definitive Proxy Statement has been mailed
to the Company’s shareholders of record as of the record date for
the Extraordinary Meeting. Investors and security holders of the
Company are advised to read the Definitive Proxy Statement because
it contains important information about the Extraordinary Meeting
and the Company. Investors and security holders of the Company may
also obtain a copy of the Definitive Proxy Statement, as well as
other relevant documents that have been or will be filed by the
Company with the SEC, without charge and once available, at the
SEC’s website at www.sec.gov or by directing a request to: Morrow
Sodali LLC, 333 Ludlow Street, 5th Floor, South Tower, Stamford,
CT; email: IFIN.info@investor.morrowsodali.com.
Participants in the
Solicitation
The Company and certain of its directors and
executive officers and other persons may be deemed to be
participants in the solicitation of proxies from the Company’s
shareholders in respect of the proposals to be considered and voted
on at the Extraordinary Meeting. Information concerning the
interests of the directors and executive officers of the Company is
set forth in the Definitive Proxy Statement, which may be obtained
free of charge from the sources indicated above.
Contacts
Alexander Edgarov, INFINT Acquisition
Corporation– sasha@infintspac.com
InFinT Acquisition (NYSE:IFIN)
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