Financial Strategies Acquisition extended its termination deadline by one month to Aug. 14.
In return for the extra time, Temmelig Investor, an affiliate of the SPAC's co-sponsors, has deposited $50,000 into trust (about 8.1 cents a share).
The SPAC earlier this month avoided a nasdaq delisting and described the challenges that it has faced while trying to complete a merger with a Brazilian company — highlighting its efforts to find a suitable candidate to complete a merger.
Financial Strategies Acquisition has a deal pending with Austin Biosciences. Assuming no redemptions, the market capitalization of the combined companies will be approximately $166.3 million. Read more.