UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 3.02. Unregistered Sales of Equity Securities.
The information set forth in Item 8.01 below is hereby incorporated by reference in this Item 3.02.
Item 7.01 Regulation FD Disclosure
On January 20, 2023, Fintech Ecosystem Development Corp. (the “Company”) issued a press release announcing the time by which FEXD has to consummate has been extended from January 21, 2023 until April 21, 2023.
The Company hereby furnishes the information in this Item 7.01, including Exhibit 99.1 attached hereto. This information is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended (the “Securities Act”), in each case, whether made before or after the date hereof, regardless of any general incorporation language in such filing. Other documents filed with the Securities and Exchange Commission (the “SEC”) shall not incorporate this information by reference, except as otherwise expressly stated in such filing.
Item 8.01. Other Events.
On January 20, 2023, Fintech Ecosystem Development Corp. (the “Company”) consummated the private placement of 1,150,000 warrants at a price of $1.00 per warrant (the “New Warrants”), generating total proceeds of $1,150,000 (the “Private Placement”). The New Warrants were purchased by Revofast LLC (the “Sponsor”), the Company’s sponsor, and are substantially similar to the warrants issued to the Sponsor at the time of the Company’s initial public offering in October 2021 (the “IPO”). The New Warrants have been issued pursuant to, and are governed by, the Warrant Agreement that the Company entered into on October 19, 2022. Similar to the private placement warrants issued at the time of the IPO, the New Warrants will not be transferable, assignable or salable until 30 days after FEXD’s initial business combination and, unlike such private placement warrants, are not redeemable by FEXD at any time (including following transfer by the Sponsor or its permitted transferees).
The proceeds received by the Company in connection with the issuance of the New Warrants have been deposited in the trust account (the “Trust Account”) established at the time of the IPO. In accordance with the Company’s Amended and Restated Certificate of Incorporation, the deposit of such proceeds into the Trust Account on or prior to January 21, 2023 will extend by three months the time the Company will have to consummate an initial business combination.
Item 9.01 Financial Statements and Exhibits
| 99.1 | Press Release of the Company dated January 20, 2023 announcing the extension | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: January 20, 2023
| FINTECH ECOSYSTEM DEVELOPMENT CORP. | ||
| By: | /s/ Saiful Khandaker | |
| Name: | Saiful Khandaker | |
| Title: | Chief Executive Officer | |