CF Acquisition Corp. IV Announces its Intention to Liquidate

NEW YORK , Nov. 28, 2023 /PRNewswire/ -- CF Acquisition Corp. IV (NASDAQ: CFIV) ("CF IV"), a publicly traded special purpose acquisition company, today announced that its board of directors (the "Board") has determined to redeem all of its outstanding shares of Class A common stock, par value $0.0001 per share ("Class A common stock"), sold in its initial public offering (the "public shares") because CF IV is unlikely to be able to complete an initial business combination by the deadline under its Amended and Restated Certificate of Incorporation, as amended. Accordingly, CF IV will not make the next $150,000 monthly installment due by November 28, 2023 to its trust account in connection with the extension of its time to consummate an initial business combination previously approved by its stockholders in June 2023 and instead CF IV will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible, redeem the public shares at a per-share price, payable in cash, equal to the aggregate amount then on deposit in its trust account, including interest earned on the funds held in the trust account and not released to CF IV 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 rights of the holders of the public shares 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 CF IV's remaining stockholders, dissolve and liquidate, subject in each case to its obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law.

Nov 28, 2023 | www.prnewswire.com