Business Context and Reporting Period
This Form 8-K is filed by FinTech Acquisition Corp. II (not International Money Express, Inc.) on March 13, 2017. The filing reports a corporate event regarding the separation of the company's Units into separately tradable securities.
Key Financial Metrics
The filing text does not provide revenue, profit, cash flow, margin, debt, or liquidity figures. This is a current report focused on a corporate action rather than financial performance.
- Unit Composition: One share of Common Stock ($0.0001 par value) and one-half of one Warrant.
- Warrant Exercise Price: $11.50 per share (subject to adjustment).
- Trading Symbols: Units (FNTEU), Common Stock (FNTE), Warrants (FNTEW).
Material Changes
Effective March 13, 2017, holders of the Company's Units may elect to separate them for individual trading on the Nasdaq Capital Market. Prior to this date, the securities traded as combined Units. The Company will not issue fractional Warrants; only whole Warrants will trade.
Outlook, Risks, and Management Commentary
Management announced the commencement of separate trading to provide flexibility for investors. Holders wishing to separate their Units must instruct their brokers to contact the transfer agent, Continental Stock Transfer & Trust Company. No specific risks, contingencies, or forward-looking guidance regarding business operations are detailed in this filing.
Investor Verification Checklist
- Confirm the ticker symbols for the separated securities: FNTE (Stock) and FNTEW (Warrants).
- Verify the procedure with your broker to separate Units, as the Company does not handle this directly.
- Note that fractional Warrants are not issued; only whole Warrants will trade.
- Review the attached Press Release (Exhibit 99.1) for additional details on the separation process.