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On December 14, 2022, JOFF Fintech Acquisition Corp. stockholders approved a Charter Amendment allowing the Company to unwind and redeem all outstanding public shares. This Early Liquidation enables the Company to withdraw a portion of interest income from its trust account, sharing 60% of the cash tax savings. Following this approval, the Company requested Nasdaq to suspend trading of its Class A common stock, redeemable warrants, and units, delisting them effective December 14, 2022. The redemption price will be calculated based on the trust account's total amount, extinguishing holders' rights to public shares.
JOFF Fintech Acquisition Corp. (NASDAQ: JOFFU) received a notice from Nasdaq on May 26, 2021, due to its failure to file the Quarterly Report on Form 10-Q for Q1 2021 by the deadline. The company cited difficulties in classifying its outstanding warrants as a liability for the delay. JOFFU has until July 26, 2021, to submit the Form 10-Q and regain compliance. Failure to do so may lead to suspension or delisting of its securities. The company is actively working to resolve this issue to maintain its Nasdaq listing.
JOFF Fintech Acquisition Corp. announced the successful closing of its upsized IPO, raising gross proceeds of $414 million by offering 41,400,000 units at $10.00 per unit on February 9, 2021. The trading of these units commenced on February 5, 2021, under the ticker symbol JOFFU. Each unit comprises one share of Class A common stock and one-third of a redeemable warrant, with a whole warrant exercisable at $11.50 per share. RBC Capital Markets served as the sole book-running manager for the offering.
JOFF Fintech Acquisition Corp. has announced the pricing of its initial public offering (IPO) of 36,000,000 units at $10.00 per unit. Trading under the ticker symbol JOFFU, the units will start on the Nasdaq Stock Market on February 5, 2021. Each unit includes one share of Class A common stock and one-third of a warrant, with full warrants priced at $11.50 per share. The IPO is expected to close on February 9, 2021. RBC Capital Markets is the sole book-running manager, and the underwriter has an option to purchase an additional 5,400,000 units for overallotments.
