Financial Acquisition Corp SPAC extends merger deadline
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Financial Acquisition Corp SPAC extends merger deadline

Samuel Casey
13 July 2023
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Financial Acquisition Corp shareholders have voted in favour of proposals to extend the company’s merger deadline to the end of the year at a general meeting, although £130mn ($170mn) of shareholder capital has been redeemed.

The special purpose acquisition company (SPAC) headed up by William Allen and Andrew Rear is now left with a capital base of £29mn as it pursues plans to become a listed Lloyd’s vehicle.

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Samuel Casey
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