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Netfin Acquisition Corp. (Nasdaq: NFIN, NFINW) and Triterras Fintech Pte. Ltd. have successfully completed their business combination, with trading of Triterras’ shares set to begin on November 11, 2020, under the ticker symbols TRIT and TRITW.
The extraordinary general meeting held today resulted in the approval of this significant merger, aiming to enhance Triterras' capabilities in trade finance through its innovative platform, Kratos™.
Netfin Acquisition Corp. (Nasdaq: NFIN, NFINW) announces that less than 3% of its public shares opted for redemption in the upcoming business combination with Triterras Fintech Pte. Ltd. Consequently, about $250 million will stay in Netfin's trust account for release upon the deal's closing. Shareholders are urged to vote in favor of the business combination at the Extraordinary General Meeting set for 9:00 AM ET on November 10, 2020. The transaction expects to close soon after, leading to the renaming of the company to Triterras, Inc., trading under the symbol "TRIT."
Netfin Acquisition Corp. has scheduled an Extraordinary General Meeting for November 10, 2020, to approve its business combination with Triterras Fintech Pte. Ltd.. The registration statement on Form F-4 for the transaction is set to be effective today at 4 p.m. ET. Shareholders of record as of October 12, 2020 will receive the proxy statement by October 30, 2020. The meeting will be hybrid due to COVID-19, allowing online participation. Shareholders must exercise redemption rights by 5 p.m. ET on November 6, 2020. Closing is contingent on shareholder approval and other customary conditions.
Netfin Acquisition Corp. (NASDAQ:NFIN, NFINW) and Triterras Fintech will present at the 9th Annual Gateway Conference on September 9, 2020. The virtual event aims to connect compelling companies with institutional investors. Netfin focuses on fintech mergers while Triterras operates a significant digital marketplace for commodity trading. The presentation is set for 12:30 p.m. Pacific Time, with management available for one-on-one meetings. This engagement could enhance visibility for both companies, especially in the fintech sector.
Netfin Acquisition Corp. (Nasdaq: NFIN, NFINW) announced a business combination with Triterras Fintech Pte Ltd., a leader in fintech for commodity trading. The merger aims to strengthen their trading platform, Kratos, which is a major player in the digital marketplace. Triterras generated $13.2 million in net income from $3.6 billion in transaction volume in FY 2019 and expects approximately $7.8 billion in transaction volume for FY 2020. The deal has received unanimous board approval and is set to close in Q4 2020, pending regulatory and shareholder approvals.
