In connection with the postponed meeting, CFFS has also extended the redemption deadline to 5 p.m. ET on June 14.
The SPAC is currently facing a completion deadline of June 20, but is seeking shareholder approval to extend its timeline by nine months until March 20, 2024. If the extension is approved and implemented, the sponsor will deposit into the trust $0.03 per month for each public share that is not redeemed for each month that is needed to complete a business combination until the deadline.
Although CF VII has not found a target to combine with just yet, it intends to focus its search on the financial services, healthcare, real estate services, technology and software industries. The company is led by Chairman and CEO Howard W. Lutnick, President Anshu Jain, and CFO Jane Novak.