Financials Acquisition Corp SPAC seeks extra time to pursue deal

Financials Acquisition

21/06/2023 07:18

LONDON, June 21 (Reuters) - Financials Acquisition
Corporation  FINSF.L  said on Wednesday it would seek
shareholder permission next month for more time to pursue an
acquisition target in the insurance sector.
    The special purpose acquisition company (SPAC), which was
floated in April 2022, said it has identified a potential target
company which could involve the company raising additional
capital and becoming a listed operating company deploying funds
into the Lloyds of London insurance market for reinsurance
purposes.
    The company said it will be seeking shareholder approval
next month to extend the deadline for completing a deal until
the end of December.
    

 (Reporting By Sinead Cruise, editing by Huw Jones)
 ((sinead.cruise@thomsonreuters.com; 020 7513 5026; Reuters
Messaging: sinead.cruise.thomsonreuters.com@reuters.net))