CF Acquisition Corp. VII: debt financing — CF Acquisition Corp. VII extends deadline to March 20, 2025; ~63% of public shares redeemed

CF Acquisition Corp. VII

Up to $1.2M promissory note from sponsor CFAC Holdings VII to fund the extension; no interest, repayable upon deal or liquidation.
Stockholders approved extension amendment and trust amendment allowing uninvested or interest-bearing demand deposit account holdings.
9,035,947 public shares redeemed, removing ~$98.9M ($10.94/share) from trust account.
After redemptions, remaining public shares outstanding: 5,267,634 from 14,303,581 originally.
Monthly $100k drawdowns under the note support the company through March 20, 2025.

item 1.01 item 2.03 item 5.03 item 5.07 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

CF Acquisition Corp. VII incurred loan of up to $1,200,000 with CFAC Holdings VII, LLC maturing upon the earlier of (a) the date of the consummation of a Business Combination or (b) the date of the liquidation of the Company.

Instrument: loan
Principal: up to $1,200,000
Counterparty: CFAC Holdings VII, LLC
Maturity: upon the earlier of (a) the date of the consummation of a Business Combination or (b) the date of the liquidation of the Company
Event: incurrence

Exact text from the filing

On March 14, 2024, CF Acquisition Corp. VII (the " Company ") issued a promissory note (the " Note ") in the principal amount of up to $1,200,000 to CFAC Holdings VII, LLC (the " Sponsor "),

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

CF Acquisition Corp. VII: Filed second amendment to Amended and Restated Certificate of Incorporation to extend business combination deadline from March 20, 2024 to March 20, 2025 (effective 2024-03-14).

Change: charter amendment
Effective: 2024-03-14

Exact text from the filing

On March 14, 2024, the Company filed the second amendment to the Company’s Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware (the “ Extension Amendment ”). The Extension Amendment extends the date by which the Company must consummate the Business Combination from March 20, 2024 to March 20, 2025 (or such earlier date as determined by the board of directors of the Company).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CF Acquisition Corp. VII entered into First Amendment to the Investment Management Trust Agreement with Continental Stock Transfer & Trust Company valued at Amendment to investment terms (effective 2024-03-14).

Action: entry
Counterparty: Continental Stock Transfer & Trust Company
Value: Amendment to investment terms
Effective: 2024-03-14

Exact text from the filing

On March 14, 2024, upon the stockholder approval of the Trust Amendment Proposal (as defined below), the Company entered into the First Amendment (the " Trust Amendment ") to the Investment Management Trust Agreement (the " IMTA ") with Continental Stock Transfer & Trust Company, as trustee (the " Trustee ").

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

CF Acquisition Corp. VII entered into Promissory Note with CFAC Holdings VII, LLC valued at up to $1,200,000 (effective 2024-03-14).

Action: entry
Counterparty: CFAC Holdings VII, LLC
Value: up to $1,200,000
Effective: 2024-03-14

Exact text from the filing

On March 14, 2024, CF Acquisition Corp. VII (the " Company ") issued a promissory note (the " Note ") in the principal amount of up to $1,200,000 to CFAC Holdings VII, LLC (the " Sponsor "), pursuant to which the Sponsor agreed to loan to the Company up to such amount in connection with the extension of the Company’s time to consummate a business combination from March 20, 2024 to March 20, 2025 (or such earlier date as determined by the board of directors of the Company) (the " Extension ").

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

CF Acquisition Corp. VII shareholders approved Extension Amendment Proposal at the 2024-03-14 meeting.

Outcome: passed
Meeting: 2024-03-14

Exact text from the filing

The final voting results for the Extension Amendment Proposal were as follows: For Against Abstain 13,661,048 1,394,569 0

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

CF Acquisition Corp. VII shareholders approved Trust Amendment Proposal at the 2024-03-14 meeting.

Outcome: passed
Meeting: 2024-03-14

Exact text from the filing

The final voting results for the Trust Amendment Proposal were as follows: For Against Abstain 13,661,028 1,394,569 20

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299 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0001213900-24-024051

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