FEXD SEC filings, in plain English
Everything Fintech Ecosystem Development Corp. has filed with the SEC that we hold — 40 filings, newest first, 1 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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What changed: Fintech Ecosystem Development Corp. called a special meeting for April 18, 2024 at 10:00 a.m. local time to amend its charter and extend the combination deadline by eight months, from the April 21, 2024 termination date to as late as October 21, 2024, through monthly elections. For each extension sponsor Revofast LLC or its designees must deposit the lesser of $66,000 and $0.033 per then-outstanding public share, in exchange for a non-interest bearing unsecured promissory note payable on consummation. It will not proceed if redemptions leave less than $5,000,001 of net tangible assets. Why it matters: A monthly deposit capped at $66,000 adds roughly a third of a cent per share to the trust on a $10 share, so the redemption floor is effectively static while the deadline moves eight months. The sponsor is funding those deposits as a loan repayable only if a deal closes, which means the money is a claim against the combined company rather than a gift to shareholders. The $5,000,001 net tangible asset condition is a real brake here: heavy redemptions at this vote can abort the extension entirely and send the vehicle to liquidation, where holders get trust value.
What changed vs 2023-03-14deadline 2024-04-21 → 2024-10-21combination deadline, trust account1 moved · 1 with no prior record of ours
- Combination deadline
- 2024-04-212024-10-21
- Trust account
- not previously extracted$2.9M
SpacBrain reads this as 183 days later than the previous record.
The clause …“eight months, from April 21, 2024 (the “Termination Date”) to up to October 21, 2024, by electing to extend the date to consummate an initial business combination on a monthly basis for up to six times by an additional one”…
The clause …“our directors, officers and initial stockholders will not receive any monies held in the Trust Account as a result of their ownership of 2,875,000 Founder Shares that were issued to the Sponsor prior to our IPO. As a consequence, a”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.