CF Acquisition Corp. VII Faces Delisting from Nasdaq

CF Acquisition Corp. VII (NASDAQ: CFFSU) recently received notification from the Listing Qualifications Department of The Nasdaq Stock Market that its securities are set to be delisted. The decision comes following the company’s failure to meet the requirements within the specified timeframe.

In compliance with Nasdaq Listing Rule IM-5101-2, a special purpose acquisition company must finalize one or more business combinations within 36 months of the effectiveness of its initial public offering (IPO) registration statement. As CF Acquisition Corp. VII did not achieve this by December 15, 2024, its securities have been flagged for delisting.

The company has decided not to contest this determination and will initiate the process of liquidating and redeeming its outstanding Public Shares, as disclosed in the current Form 8-K filing.

On December 17, 2024, the board of directors determined that the company is unlikely to complete a Business Combination by the extended deadline of March 20, 2025. As a result, CF Acquisition Corp. VII will take steps to wind up its operations, redeem all issued Public Shares at a per-share cash price reflecting the total funds in the Trust Account, and subsequently dissolve and liquidate the company.

CF Acquisition Corp. VII’s sponsor has agreed to waive its redemption rights to the Trust Account funds concerning the shares of Class A Common Stock and Class B common stock of the company. The expected redemption price per share stands at approximately $11.41, with proceeds awaiting disbursement to Public Share holders by December 31, 2024.

Following the redemption of all Public Shares, the company plans to halt its reporting obligations under Sections 13 and 15(d) of the Exchange Act by filing Form 15 with the Securities and Exchange Commission.

Investors and stakeholders will receive further details and instructions regarding the redemption process through the company’s trustee, Continental Stock Transfer & Trust Company. The execution of the dissolution and associated costs outside the Trust Account will be covered by the remaining funds.

This development marks a significant shift for CF Acquisition Corp. VII, leading towards the conclusion of its operations within the specified timeline as indicated by the Board.

The company aims to finalize the delisting process and dissolution efficiently, adhering to all legal and regulatory requirements.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read CF Acquisition Corp. VII’s 8K filing here.

CF Acquisition Corp. VII Company Profile

CF Acquisition Corp. VII does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to acquire companies in the financial services, healthcare, real estate services, technology, and software industries.