CF Acquisition Corp. VIII announces $220M SPAC merger with XBP Europe; sponsor to forfeit 733k shares

XBP Global Holdings, Inc.

Merger valued at $220M less XBP Europe's closing indebtedness; XBP Europe shareholders to receive shares of Class A common stock at $10.00 reference plus 1,330,650 shares.
Sponsor CFAC Holdings VIII agrees to forfeit 733,400 Class B shares and not redeem any shares in the transaction.
Parent BTC International Holdings subject to one-year lock-up on shares received in the merger.
Closing requires stockholder approval, regulatory clearances, and must occur by June 30, 2023 (extendable to September 30, 2023).
Post-closing board to consist of seven members from XBP Europe, with Par Chadha as chair.

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