Financials Acquisition Corp scraps £1bn Lloyd’s SPAC venture
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Financials Acquisition Corp scraps £1bn Lloyd’s SPAC venture

Aisling Finn
13 November 2023
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Financials Acquisition Corp, the London-listed special purpose acquisition company (SPAC) has scrapped its planned merger with its newly formed insurance vehicle London Innovation Underwriters (LIU), citing “insufficient commitments” and “volatile capital markets”.

A shareholder meeting planned for 14 November to help the SPAC secure up to £300mn ($367mn) has been cancelled, and the venture will now enter liquidation.

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Aisling Finn
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