Netfin NFINU = 1C, 1W
Trading 11/11/20 ~$11.75 W ~$2.50
NEW YORK, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Netfin Acquisition Corp. (Nasdaq: NFIN, NFINW) (“Netfin” or the “Company”) today announced that less than 3% of its public shares were submitted for redemption in connection with the Company's previously announced business combination with Triterras Fintech Pte. Ltd. (“Triterras Fintech”). As a result, approximately $250 million will remain in Netfin’s trust account and be released upon the closing of the business combination.
Trust June 17 2020 q ~ 10.17
Trust IPO $10.00 - $253,000,000 with over alotment. 25,300,000 shares.
1 warrant + 11.50. Adjusts details below. 9.20.
Deadline 18 months.
focus - fintech industry, including those engaged in commercial, online and mobile banking and payments, trade finance and telecommunications, that offer a differentiated technology platform and product suite for interfacing with the financial services sector.
We estimate the interest earned on the trust account will be approximately $5,060,000 per year, assuming an interest rate of 2.3% per year;
Vadim Komissarov, a member of our board of directors, is the president, chief financial officer and a director of TDAC, a special purpose acquisition company which intends to focus its efforts on seeking a business combination with an oil and gas or other natural resources company in Eastern Europe or which in interested in expanding into Eastern Europe. Mr. Komissarov has agreed to present to TDAC for its consideration, prior to presentation to any other person or entity, including us, any suitable opportunity to acquire a target business, until the earlier of the consummation of TDAC’s initial business combination and December 1, 2019.
$11.50 per share, subject to adjustments as described herein.
In addition, if (x) we issue additional Class A ordinary shares stock or equity-linked securities for capital raising purposes in connection with the closing of our initial business combination at an issue price or effective issue price of less than $9.20 per Class A ordinary share (with such issue price or effective issue price to be determined in good faith by our board of directors and, in the case of any such issuance to our initial shareholders or their affiliates, without taking into account any founder shares held by our initial shareholders or such affiliates, as applicable, prior to such issuance), (y) the aggregate gross proceeds from such issuances represent more than 50% of the total equity proceeds, and interest thereon, available for the funding of our initial business combination, and (z) the volume weighted average trading price of our Class A ordinary shares during the 10 trading day period starting on the trading day after the day on which we consummate our initial business combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the Market Value, and the $18.00 per share redemption trigger price described below under “Redemption of warrants” will be adjusted (to the nearest cent) to be equal to 180% of the Market Value.