- FinServ Acquisition Corp. II Announces its Intention to Liquidate
Nov 28, 2023
New York, New York, Nov. 28, 2023 (GLOBE NEWSWIRE) -- FinServ Acquisition Corp. II (“FinServ II”) (Nasdaq: FSRX) announced today that the board of directors of FinServ II (the “Board”) determined FinServ II cannot complete a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (a “Business Combination”) by February 22, 2024, the deadline by which FinServ II has to consummate such Business Combination under its Amended and Restated Certificate of Incorporation.
Consequently, the Board determined the Company will, as of November 22, 2023, (i) cease all operations except for the purpose of winding up as soon as practicable, (ii) as promptly as reasonably possible redeem the shares of its Class A common stock (the “Public Shares”) that were included in the units issued in FinServ II’s initial public offering (the “IPO”) at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account established in connection with the IPO (the “Trust Account”) including interest earned on the funds held in the Trust Account and not previously released to FinServ II to pay its taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of outstanding Public Shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law (the “Redemption”), and (iii) as promptly as reasonably possible following the Redemption, subject to the approval of FinServ II’s remaining stockholders, liquidate the funds held in the Trust Account (the “Liquidation”) and dissolve FinServ II (the “Dissolution”), subject in each case to its obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to FinServ II’s warrants, which will expire worthless. FinServ Holdings II, LLC, FinServ II’s sponsor, has agreed to waive its redemption rights with respect to the shares of FinServ II’s Class B common stock issued prior to the IPO, including shares of FinServ II’s Class A common stock issued upon conversion of such Class B common stock.
In order to provide for the disbursement of funds from the Trust Account, FinServ II has instructed Continental Stock Transfer & Trust Company (“Continental”), as its trustee, to take all necessary actions to effect the Liquidation. The proceeds thereof, less $100,000 of interest to pay dissolution expenses and net of taxes payable, will be held in a trust operating account while awaiting disbursement to the holders of the Public Shares. FinServ II expects to redeem all of the outstanding Public Shares for an estimated redemption price of approximately $10.34 per share (the “Redemption Amount”) after the payment of up to $100,000 of dissolution expenses and the payment of taxes. All other costs and expenses associated with implementing the Dissolution will be funded from proceeds held outside of the Trust Account. Record holders of Public Shares will receive their pro rata portion of the proceeds of the Trust Account by delivering their Public Shares to Continental, FinServ II’s transfer agent. Beneficial owners of Public Shares held in “street name,” however, will not need to take any action in order to receive the Redemption Amount. The Redemption Amount is expected to be paid out by December 8, 2023.
FinServ II expects that the Nasdaq Stock Market LLC will file a Form 25 with the United States Securities and Exchange Commission (the “Commission”) to delist its securities after the last day of trading on December 7, 2023. FinServ II thereafter intends to file a Form 15 with the Commission to suspend its reporting obligations under Sections 13 and 15(d) of the Exchange Act.
About FinServ II
FinServ II is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a Business Combination.
Forward Looking Statements
This press release contains statements that may constitute “forward-looking statements”. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of FinServ II, including those set forth in the Risk Factors section of FinServ II’s public filings with the SEC. Copies are available on the SEC’s website, www.sec.gov. FinServ II undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact:
Steven Handwerker
(929) 529-7125
info@finservacquisition.com
- FinServ Acquisition Corp. II Announces its Intention to Liquidate
Nov 28, 2023 · globenewswire.com
New York, New York, Nov. 28, 2023 (GLOBE NEWSWIRE) -- FinServ Acquisition Corp. II (“FinServ II”) (Nasdaq: FSRX) announced today that the board of directors of FinServ II (the “Board”) determined FinServ II cannot complete a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (a “Business Combination”) by February 22, 2024, the deadline by which FinServ II has to consummate such Business Combination under its Amended and Restated Certificate of Incorporation.
- FINSERV ACQUISITION CORP. II ANNOUNCES ITS INTENTION TO LIQUIDATE
Nov 28, 2023
NEW YORK, NEW YORK, NOV. 28, 2023 (GLOBE NEWSWIRE) -- FINSERV ACQUISITION CORP. II (“FINSERV II”) (NASDAQ: FSRX) ANNOUNCED TODAY THAT THE BOARD OF DIRECTORS OF FINSERV II (THE “BOARD”) DETERMINED FINSERV II CANNOT COMPLETE A MERGER, CAPITAL STOCK EXCHANGE, ASSET ACQUISITION, STOCK PURCHASE, REORGANIZATION OR SIMILAR BUSINESS COMBINATION WITH ONE OR MORE BUSINESSES (A “BUSINESS COMBINATION”) BY FEBRUARY 22, 2024, THE DEADLINE BY WHICH FINSERV II HAS TO CONSUMMATE SUCH BUSINESS COMBINATION UNDER ITS AMENDED AND RESTATED CERTIFICATE OF INCORPORATION.
- FinServ Acquisition Corp. II Announces the Separate Trading of its Class A Common Stock and Redeemable Warrants Commencing April 12, 2021
Apr 7, 2021
NEW YORK, NY, April 07, 2021 (GLOBE NEWSWIRE) -- FinServ Acquisition Corp. II (NASDAQ: FSRXU) (the “Company”) today announced that, commencing April 12, 2021, holders of the units sold in the Company’s initial public offering of 30,000,000 units completed on February 22, 2021, may elect to separately trade the shares of the Company’s Class A common stock and redeemable warrants included in the units. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Class A common stock and warrants that are separated will trade on the NASDAQ Capital Market under the symbols “FSRX” and “FSRXW,” respectively. Those units not separated will continue to trade on the NASDAQ Capital Market under the symbol “FSRXU.”
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About FinServ Acquisition Corp. II
FinServ Acquisition Corp. II is a newly incorporated blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on businesses in the financial technology and financial services industries. The Company is led by Lee Einbinder, Chief Executive Officer, Howard Kurz, President, and Steven Handwerker, Chief Financial Officer.
Forward-Looking Statements
This press release may include, and oral statements made from time to time by representatives of the Company may include, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the Securities and Exchange Commission (“SEC”). All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Company Contact:
Lee Einbinder
Chief Executive Officer
FinServ Acquisition Corp. II
lee@finservacquisition.com
- FinServ Acquisition Corp. II Announces the Separate Trading of its Class A Common Stock and Redeemable Warrants Commencing April 12, 2021
Apr 7, 2021
NEW YORK, NY, April 07, 2021 (GLOBE NEWSWIRE) -- FinServ Acquisition Corp. II (NASDAQ: FSRXU) (the “Company”) today announced that, commencing April 12, 2021, holders of the units sold in the Company’s initial public offering of 30,000,000 units completed on February 22, 2021, may elect to separately trade the shares of the Company’s Class A common stock and redeemable warrants included in the units. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Class A common stock and warrants that are separated will trade on the NASDAQ Capital Market under the symbols “FSRX” and “FSRXW,” respectively. Those units not separated will continue to trade on the NASDAQ Capital Market under the symbol “FSRXU.”
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About FinServ Acquisition Corp. II
FinServ Acquisition Corp. II is a newly incorporated blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on businesses in the financial technology and financial services industries. The Company is led by Lee Einbinder, Chief Executive Officer, Howard Kurz, President, and Steven Handwerker, Chief Financial Officer.
Forward-Looking Statements
This press release may include, and oral statements made from time to time by representatives of the Company may include, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the Securities and Exchange Commission (“SEC”). All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Company Contact:
Lee Einbinder
Chief Executive Officer
FinServ Acquisition Corp. II
lee@finservacquisition.com
- FinServ Acquisition Corp. II Announces Closing of $300,000,000 Initial Public Offering
Feb 22, 2021
New York, NY, Feb. 22, 2021 (GLOBE NEWSWIRE) -- FinServ Acquisition Corp. II (the “Company”) announced today that it closed its initial public offering of 30,000,000 units, including 3,500,000 units issued pursuant to the exercise of the underwriters’ over-allotment option, at $10.00 per unit. The units are listed on the Nasdaq Capital Market (“Nasdaq”) under the ticker symbol “FSRXU”. Each unit consists of one of the Company’s shares of Class A common stock and one-quarter of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “FSRX” and “FSRXW,” respectively.
The Company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on businesses in the financial technology (“FinTech”) and financial services industries. The Company is led by Lee Einbinder, Chief Executive Officer, Howard Kurz, President, and Steven Handwerker, Chief Financial Officer.
Citigroup Global Markets Inc. and Barclays Capital Inc. acted as joint book running managers for the offering.
The offering was made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from Citigroup Global Markets Inc., 388 Greenwich Street, New York, NY, 10013, Attn: General Counsel, fax no.: (646) 291-1469, and from Barclays Capital Inc., 745 Seventh Avenue, New York, NY, 10019, Attn: Syndicate Registration, fax no.: (646) 834-8133.
Registration statements relating to these securities have been filed with the Securities and Exchange Commission (the “SEC”) and became effective on February 17, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and the anticipated use of the net proceeds. No assurance can be given that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact
Lee Einbinder
Chief Executive Officer
FinServ Acquisition Corp. II
lee@finservacquisition.com
- U.S. IPO Weekly Recap: The IPO Market Takes Its Annual February Break In A 1 IPO Week
Feb 21, 2021 · seekingalpha.com
U.S. IPO Weekly Recap: The IPO Market Takes Its Annual February Break In A 1 IPO Week
- FinServ Acquisition Corp. II Announces Pricing of Upsized $265,000,000 Initial Public Offering
Feb 18, 2021
New York, NY, Feb. 17, 2021 (GLOBE NEWSWIRE) -- FinServ Acquisition Corp. II (the “Company”) announced today that it priced its upsized initial public offering of 26,500,000 units at $10.00 per unit. The units will be listed on the Nasdaq Capital Market (“Nasdaq”) and will begin trading tomorrow, Thursday, February 18, 2021, under the ticker symbol “FSRXU”. Each unit consists of one of the Company’s shares of Class A common stock and one-quarter of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “FSRX” and “FSRXW,” respectively. The offering is expected to close on February 22, 2021, subject to customary closing conditions.
The Company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on businesses in the financial technology (“FinTech”) and financial services industries. The Company is led by Lee Einbinder, Chief Executive Officer, Howard Kurz, President, and Steven Handwerker, Chief Financial Officer.
Citigroup Global Markets Inc. and Barclays Capital Inc. are acting as joint book running managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,975,000 units at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from Citigroup Global Markets Inc., 388 Greenwich Street, New York, NY, 10013, Attn: General Counsel, fax no.: (646) 291-1469, and from Barclays Capital Inc., 745 Seventh Avenue, New York, NY, 10019, Attn: Syndicate Registration, fax no.: (646) 834-8133.
Registration statements relating to these securities have been filed with the Securities and Exchange Commission (the “SEC”) and became effective on February 17, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact
Lee Einbinder
Chief Executive Officer
FinServ Acquisition Corp. II
lee@finservacquisition.com
- FinServ Acquisition Corp. II Announces Pricing of Upsized $265,000,000 Initial Public Offering
Feb 17, 2021 · globenewswire.com
New York, NY, Feb. 17, 2021 (GLOBE NEWSWIRE) -- FinServ Acquisition Corp. II (the “Company”) announced today that it priced its upsized initial public offering of 26,500,000 units at $10.00 per unit. The units will be listed on the Nasdaq Capital Market (“Nasdaq”) and will begin trading tomorrow, Thursday, February 18, 2021, under the ticker symbol “FSRXU”. Each unit consists of one of the Company's shares of Class A common stock and one-quarter of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “FSRX” and “FSRXW,” respectively. The offering is expected to close on February 22, 2021, subject to customary closing conditions.
- FINSERV ACQUISITION CORP. II ANNOUNCES PRICING OF UPSIZED $265,000,000 INITIAL PUBLIC OFFERING
Feb 17, 2021
NEW YORK, NY, FEB. 17, 2021 (GLOBE NEWSWIRE) -- FINSERV ACQUISITION CORP. II (THE “COMPANY”) ANNOUNCED TODAY THAT IT PRICED ITS UPSIZED INITIAL PUBLIC OFFERING OF 26,500,000 UNITS AT $10.00 PER UNIT. THE UNITS WILL BE LISTED ON THE NASDAQ CAPITAL MARKET (“NASDAQ”) AND WILL BEGIN TRADING TOMORROW, THURSDAY, FEBRUARY 18, 2021, UNDER THE TICKER SYMBOL “FSRXU”. EACH UNIT CONSISTS OF ONE OF THE COMPANY'S SHARES OF CLASS A COMMON STOCK AND ONE-QUARTER OF ONE REDEEMABLE WARRANT, EACH WHOLE WARRANT ENTITLING THE HOLDER THEREOF TO PURCHASE ONE SHARE OF CLASS A COMMON STOCK AT A PRICE OF $11.50 PER SHARE. ONLY WHOLE WARRANTS ARE EXERCISABLE. ONCE THE SECURITIES COMPRISING THE UNITS BEGIN SEPARATE TRADING, THE SHARES OF CLASS A COMMON STOCK AND WARRANTS ARE EXPECTED TO BE LISTED ON NASDAQ UNDER THE SYMBOLS “FSRX” AND “FSRXW,” RESPECTIVELY. THE OFFERING IS EXPECTED TO CLOSE ON FEBRUARY 22, 2021, SUBJECT TO CUSTOMARY CLOSING CONDITIONS.
