Finserv Acquisition Corp. II
FSRX · Nasdaq
NO ACTION REQUIRED
Nothing left to do
The cash went back to shareholders and the company wound up. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
In plain terms
- What it is
- A SPAC from FinServ Acquisition Corp. (Matza Robert), listed on Nasdaq in February 2021.
- What it's doing now
- It never completed a purchase. The company wound up and the cash in the account went back to shareholders — the ordinary ending when a SPAC runs out of time. No agreed deal for it is on file with us, so we cannot say whether one was ever announced and later fell through.
- What you should know
- This SPAC has finished. The cash was paid back to shareholders and the company wound up, so there is nothing left to claim — the money went where the charter said it would.
At a glance
- Where it stands
- Liquidated
- Deal
- none — it wound up and returned the cash instead
- Industry
- no filing we hold states a sector this SPAC restricted its search to
- Deal value
- no deal to value — it wound up instead
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 19 February 2021
- size not on file · 100.0% of each $10 unit into trust
- Headquarters
- 1345 AVENUE OF THE AMERICAS, NEW YORK, NY, 10105
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- MATZA ROBERT (Director) · Einbinder Lee (Chief Executive Officer) · Vaughan Michael Brian (Director)
- Listed securities
- FSRX common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
At the 18 August 2023 event.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
What has happened, and what is coming
3 dated milestonesEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 19 February 2021IPOpassed
IPO size not on file
redemption rate not stated in the filing
redemption rate not stated in the filing
Who has already taken their money back
2 filed eventsEach time shareholders were offered their cash back, some took it. Heavy cash-outs drain the account and shrink the number of shares left — whatever remains has to carry the deal.
Worst single event
—
no filing states a pre-event share count
Shares redeemed, all events
28.96M
across every filed redemption event
Every figure below is stated in the linked filing; nothing here is estimated.
- Aug 18, 2023Extensionno rate stated
Show the other 1 cash-out event
- Feb 20, 2023Extensionno rate stated
The score
deterministic, from filed fieldsFSRX is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 292 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
Finserv Acquisition Corp. II was a blank-check company whose common stock traded on the Nasdaq Stock Market under the ticker FSRX. The company priced its initial public offering on February 19, 2021, as reflected in a 424B prospectus filed with the SEC. Its Class A Common Stock, Warrants, and Units were later redeemed, and the company was liquidated, returning trust cash to shareholders. The liquidation is established by a Form 25 filed on December 7, 2023, under 17 CFR 240.12d2-2(a)(1), and the FSRX ticker appears on the cover page of an 8-K filed on November 28, 2023.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
The filing states an estimated redemption price of approximately $10.34 per share after up to $100,000 of dissolution expenses AND the payment of taxes, expected to be paid out by December 8, 2023. Warrants have no redemption or liquidating-distribution rights and will expire worthless. Sponsor FinServ Holdings II, LLC waived redemption rights on its Class B shares and on Class A shares issued on their conversion. The company expects Nasdaq to file a Form 25 to delist its securities.
The redemption figures are the substance: holders of 3,920,848 public shares redeemed, taking approximately $40,298,391 — about $10.28 per public share — and leaving approximately $10,670,135 in the trust, with 9,338,155 Class A shares outstanding afterwards. Roughly 21% of the votes cast opposed both amendments, a larger dissent than most extension votes in this tier, and the eliminated net-tangible-assets floor previously capped how much of the trust could be redeemed away.
Two extensions inside six months, with the second seeking to strip out the $5,000,001 net tangible asset limitation, means the vehicle is prepared to be redeemed down to almost nothing while it keeps looking. The sponsor's conversion of 7,499,999 founder shares into Class A stock in January 2023 matters for control: those shares now vote alongside the public float, and after heavy redemptions the sponsor's converted block can dominate any subsequent vote while still being excluded from trust distributions. Redemption at the pro rata trust amount remains available at this meeting.
The sponsor's conversion of 7,499,999 founder shares into Class A stock the same week as this proxy gives it a large voting block that sits alongside the public float while remaining excluded from trust distributions, so it can carry votes without any capital at risk in the trust. With about $304.2 million still on deposit the $10.14 floor is fully funded and five cents above the $10.09 market price, making redemption the better exit. The February 16 tender deadline is the hard cut-off.
The over-allotment was exercised in full to a $300 million trust at $10.00 per public share — FSRX's redemption floor.
Sets FSRX's $265 million base IPO with thin quarter-warrant coverage, limiting the dilution overhang on any eventual deal.
Show 1 more material filings
The founder-share release test here runs from 90 DAYS after the business combination, not the 150 days that is otherwise uniform across this slice - so the insiders' shares unlock two months earlier than the tier's default at the same $12.00 price. The $18.00 warrant call still runs on the reported last sale price for 20 of 30 trading days ending three business days before notice. The sponsor's at-risk money is in units rather than warrants, so it holds shares alongside the public.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
What changed: Item 8.01 — liquidation. On November 21, 2023 the board of FinServ Acquisition Corp. II determined the company will be unable to consummate a business combination by the Extended Date of February 22, 2024 approved by stockholders on August 18, 2023 — three months before that date. As of November 22, 2023 it will cease all operations except winding up, redeem the public Class A shares at the trust amount including interest not previously released for taxes, less up to $100,000 of interest for dissolution expenses, then liquidate and dissolve. Why it matters: The filing states an estimated redemption price of approximately $10.34 per share after up to $100,000 of dissolution expenses AND the payment of taxes, expected to be paid out by December 8, 2023. Warrants have no redemption or liquidating-distribution rights and will expire worthless. Sponsor FinServ Holdings II, LLC waived redemption rights on its Class B shares and on Class A shares issued on their conversion. The company expects Nasdaq to file a Form 25 to delist its securities.
- What changed vs 2023-08-14deadline 2023-08-22 → 2024-02-22
combination deadline, trust account, going-concern doubt +11 moved · 3 with no prior record of ours
- Combination deadline
- 2023-08-222024-02-22
- Trust account
- $303.5M · unchanged
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 30.0M · unchanged
SpacBrain reads this as 184 days later than the previous record.
The clause …“funds to operate its business prior to the date of business combination. If a Business Combination is not consummated by February 22, 2024, and if there are no further amendments to extend the date of the Business Combination beyond”…
The clause …“267,623 642,293 Cash held in Trust Account 10,722,779 — Cash and investments held in Trust Account — 303,511,593 Total assets $ 10,990,402 $ 304,153,886 Liabilities, Redeemable Common Stock and Stockholders’ Deficit Current”…
The clause …“that potential liquidity shortfall and mandatory liquidation deadline raise substantial doubt about the Company’s ability to continue as a going concern. 6 Risks and Uncertainties Management is continuing to evaluate the impacts of”…
The clause “9,999 and 800,000 shares issued and outstanding (excluding 1,038,155 shares and 30,000,000 shares subject to possible redemption) at September 30, 2023 and December 31, 2022, respectively 830 80 Class B common stock, $ 0.0001 par value;”…
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.
Show the other 10 filings
What changed: Items 1.01, 2.03, 5.03 and 5.07: On August 22, 2023 FinServ Acquisition Corp. II issued a non-interest-bearing working capital note of up to $400,000 to its sponsor, FinServ Holdings II, LLC, repayable on the earlier of a business combination or liquidation. At the August 18 special meeting stockholders approved extending the business-combination date from August 22, 2023 to February 22, 2024, or earlier at the board's discretion, and eliminating the $5,000,001 net-tangible-assets Redemption Limitation. Each carried 10,260,688 for and 2,748,130 against, on a 13,259,003-share quorum. Why it matters: The redemption figures are the substance: holders of 3,920,848 public shares redeemed, taking approximately $40,298,391 — about $10.28 per public share — and leaving approximately $10,670,135 in the trust, with 9,338,155 Class A shares outstanding afterwards. Roughly 21% of the votes cast opposed both amendments, a larger dissent than most extension votes in this tier, and the eliminated net-tangible-assets floor previously capped how much of the trust could be redeemed away.
trust account, combination deadline, going-concern doubt +1nothing moved · 4 with no prior record of ours
- Trust account
- $303.5M · unchanged
- Combination deadline
- 2023-08-22 · unchanged
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 30.0M · unchanged
The clause …“192,014 642,293 Cash held in Trust Account 50,853,912 — Cash and investments held in Trust Account — 303,511,593 Total assets $ 51,045,926 $ 304,153,886 Liabilities, Redeemable Common Stock and Stockholders’ Deficit Current”…
The clause …“must consummate its initial Business Combination from February 22, 2023 to August 22, 2023, or such earlier date as determined by the Company’s board of directors (the “Extension”). In connection with the Special Meeting,”…
The clause …“Company’s working capital. Management has determined that these factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company will hold a special meeting of stockholders (the “Meeting”) on”…
The clause “9,999 and 800,000 shares issued and outstanding (excluding 4,959,003 shares and 30,000,000 shares subject to possible redemption) at June 30, 2023 and December 31, 2022, respectively 830 80 Class B common stock, $ 0.0001 par value;”…
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.
What changed: FinServ Acquisition Corp. II set a special meeting for August 18, 2023 at 10 a.m. Eastern at the offices of Ellenoff Grossman & Schole in New York for a second extension amendment to its charter, which was already amended on February 21, 2023 after holders approved a first extension on February 20, 2023 moving the deadline from February 22, 2023 to August 22, 2023. A companion redemption limitation amendment would let it redeem public shares irrespective of the $5,000,001 NTA floor. Why it matters: Two extensions inside six months, with the second seeking to strip out the $5,000,001 net tangible asset limitation, means the vehicle is prepared to be redeemed down to almost nothing while it keeps looking. The sponsor's conversion of 7,499,999 founder shares into Class A stock in January 2023 matters for control: those shares now vote alongside the public float, and after heavy redemptions the sponsor's converted block can dominate any subsequent vote while still being excluded from trust distributions. Redemption at the pro rata trust amount remains available at this meeting.
What changed vs 2023-01-30deadline 2023-08-22 → 2024-02-22combination deadline1 moved
- Combination deadline
- 2023-08-222024-02-22
SpacBrain reads this as 184 days later than the previous record.
The clause “Shares (as defined below) if the Corporation is unable to complete its initial Business Combination by February 22, 2024 or such earlier date as may be determined by the Board in its sole discretion (or, if the Office of the Delaware”…
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.
- What changed vs 2022-11-14trust $301.4M → $303.5M +1%deadline 2023-02-22 → 2023-08-22
trust account, combination deadline, going-concern doubt +12 moved · 2 with no prior record of ours
- Trust account
- $301.4M$303.5M
- Combination deadline
- 2023-02-222023-08-22
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 30.0M · unchanged
SpacBrain reads this as $2,148,005 was added to the trust between the two filings.
The clause …“Inputs 2022 (Level 1) (Level 2) (Level 3) Assets: U.S. Money Market held in Trust Account $ 303,511,593 $ 303,511,593 $ — $ — Investments in mutual funds 549,408 549,408 — — $ 304,061,001 $ 304,061,001 $ — $ — Liabilities:”…
SpacBrain reads this as 181 days later than the previous record.
The clause …“from February 22, 2023 (which was 24 months from the closing of the IPO) to August 22, 2023 (or such earlier date as determined by our board of directors). In connection with the Extension Amendment, stockholders holding 25,040,997”…
The clause …“Company’s working capital. Management has determined that these factors raise substantial doubt about the Company’s ability to continue as a going concern. 6 Risks and Uncertainties Management is continuing to evaluate the impacts of”…
The clause “9,999 and 800,000 shares issued and outstanding (excluding 4,959,003 shares and 30,000,000 shares subject to possible redemption at March 31, 2023 and December 31, 2022, respectively) 830 80 Class B common stock, $ 0.0001 par value;”…
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.
- What changed vs 2022-03-29trust $300.0M → $303.5M +1%deadline 2023-02-22 → 2023-08-22
trust account, combination deadline, redeemable shares +22 moved · 3 with no prior record of ours
- Trust account
- $300.0M$303.5M
- Combination deadline
- 2023-02-222023-08-22
- Redeemable shares
- not previously extracted30.0M
- Going-concern doubt
- stated · unchanged
- Mandate language
- we are focusing our search for an initial business combinati… · unchanged
SpacBrain reads this as $3,486,396 was added to the trust between the two filings.
The clause “Assets 642,293 1,376,119 Other noncurrent assets — 26,682 Cash and investments held in Trust Account 303,511,593 300,025,197 TOTAL ASSETS $ 304,153,886 $ 301,427,998 LIABILITIES AND STOCKHOLDERS’ DEFICIT Current liabilities Accounts”…
SpacBrain reads this as 181 days later than the previous record.
The clause …“ability to continue as a going concern if it does not consummate its initial Business Combination before August 22, 2023. No adjustments have been made to the carrying amounts of the assets or liabilities should the Company be required”…
The clause “100,000,000 shares authorized; 800,000 shares issued and outstanding (excluding 30,000,000 shares subject to possible redemption) at December 31, 2022 and 2021 80 80 Class B common stock, $ 0.0001 par value; 10,000,000 shares authorized;”…
The clause …“would have a right to submit their shares for redemption; ● there is substantial doubt about our ability to continue as a “going concern”; and ● the removal of $254,201,239.56 from the trust account in connection with the”…
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.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
Extension reliance: 2 extension votes across 2 in-DB vehicles (1.0 per vehicle; 3+ scores zero).
Mixed record · low confidence
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
Unit: U = S + W · 100.0% of the $10 unit
from 424B4 0001213900-21-010588
Trading & liquidity
Company profile
Directors & officers
- MATZA ROBERTDirector
- Einbinder LeeChief Executive Officer
- Vaughan Michael BrianDirector
- SMILOW DAVID ADirector
- Kurz HowardDirector
- Soranno Keating ValerieDirector
- Handwerker StevenChief Financial Officer
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
2 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- Finserv Holdings II LLCwith 1 other reporting person on the same schedule62.6% · SC 13D/AFeb 28, 2023 stale
- Saba Capital Management, L.P.with 1 other reporting person on the same schedule0.0% · SC 13G/AFeb 8, 2024 stale
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
39 full SEC filing texts archived — searchable, never lost.
- Vault note — FSRX (Finserv Acquisition Corp. II)
vault-note · /vault/tickers/FSRX
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
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.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
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.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
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.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail3 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from the HISTORICAL census (EDGAR's SIC 6770 registrant list, walked in full: 3,325 registrants, 1,167 of which ever priced an IPO). The live discovery job cannot reach this registrant — it reads the filing tape, and this one stopped filing. Admission rule: src/lib/universe-admit.ts. SIC 6770 (Blank Checks); 424B 0001213900-21-010588 priced 2021-02-19; common ticker FSRX off 8-K 0001213900-23-090568 (2023-11-28); lifecycle EXITED. Ending PROVEN, not inferred: LIQUIDATED per Form 25 0001354457-23-000916 (2023-12-07) — Form 25 filed under 17 CFR 240.12d2-2(a)(1) — the rule for a class "called for redemption" or "redeemed or paid at maturity/retirement". For a SPAC that class is the public shares and that redemption is the trust going back (class: Class A Common Stock, Warrant, Unit). No wind-up press release was readable on the registrant's own file, so the per-share figure is not stored.. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
warrantStrike=11.5, unitSeparationDays=52 from the definitive prospectus (0001213900-21-010588). NOT FILLED: warrantCallPrice — no stated candidate; rightShareRatio — no stated candidate
sponsor "Finserv Holdings II LLC" (SEC CIK 0001834337) sourced from Form 3 reportingOwner (10% owner) acc 0001213900-21-010166.