FINTECH ECOSYSTEM DEVELOPMENT CORP. : Unregistered sale of shares, Regulation FD disclosure, other events, accounts and exhibits (form 8-K)

by James · January 20, 2023

Item 3.02. Unregistered sale of Equality security.

The information stated in clause 8.01 below is hereby incorporated by reference in this clause 3.02.

Clause 7.01 Regulation FD Disclosure

On 20 January 2023, Fintech Ecosystem Development Corp. (the “Company”) has issued a press release announcing that the time that FEXD must complete has been extended from 21 January 2023 for 21 April 2023.

The company hereby provides the information in this section 7.01, including annex 99.1 attached hereto. This information shall not be deemed to be “filed” within the meaning of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the obligations of this Section, nor shall it be deemed to be incorporated by reference into any filing by 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 submitted to The Security and Exchange Commission (“SEC”) shall not incorporate this information by reference, unless otherwise expressly stated in such filing.

Mail 8.01. Other events.

On 20 January 2023, Fintech Ecosystem Development Corp. (the “Company”) completed the private placement of 1,150,000 warrants at a price of $1.00 per warrant (“the new warrants”), and generates a total dividend of $1,150,000 (the “Private Location”). The new subscription rights were purchased by Revofast LLC (the “Sponsor”), the Company’s sponsor, and is substantially similar to the warrants issued to the Sponsor at the time of the Company’s initial public offering in
October 2021 (“IPO”). The new warrants have been issued in accordance with, and are subject to, the warrant agreement entered into by the company 19 October 2022. Like the private placement warrants issued at the time of the IPO, the new warrants will not be assignable, transferable or salable until 30 days after FEXD’s initial business combination and, unlike such private placements, will not be redeemable by FEXD at any time (including after transfer from the sponsor or its permitted transferees).

The income received by the company in connection with the issue of the new subscription rights has been deposited in the trust account (“the trust account”) established at the time of the listing. Pursuant to the Company’s Amended and Restated Certificate of Incorporation, the deposit of such dividend into the Trust Account on or before 21 January 2023 will extend by three months the time the company will have to complete a first business combination.

Item 9.01 Annual accounts and exhibitions

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).

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