FinTech Acquisition Corp. II (NASDAQ:FNTE) ("FNTE") today
announced that FNTE’s stockholders have voted to approve FNTE’s
previously announced merger transaction with Intermex Holdings II,
Inc. (the “Merger” or “Business Combination Proposal”) at the
special meeting of stockholders held today. Over 99% of the shares
voted today were voted in favor of the transaction with Intermex.
FNTE’s Board of Directors had previously approved the Business
Combination Proposal and recommended that its stockholders vote in
favor. Intermex’s Board of Directors and stockholders had also
previously approved the Merger.
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The Merger is expected to close on July 26, 2018, subject to
closing conditions.
About the Merger
As announced on December 19, 2017, FNTE agreed to merge with
Intermex, a portfolio company of Stella Point Capital, LP (“Stella
Point Capital”). The merged company will be renamed International
Money Express, Inc. and is expected to continue to be listed on the
Nasdaq Stock Market.
The description of the transaction contained herein is only a
summary and is qualified in its entirety by reference to the merger
agreement, a copy of which was filed by FNTE with the Securities
and Exchange Commission (SEC).
Advisors
Cantor Fitzgerald & Co., JMP Securities and Northland
Securities, Inc. are acting as Capital Markets Advisors to FTNE;
JMP Securities is also acting as Financial Advisor to FNTE; and
Ledgewood is acting as legal counsel to FNTE. Fried, Frank, Harris,
Shriver & Jacobson LLP is acting as legal counsel to Intermex
in this transaction. Brenner Kaprosy Mitchell, LLP is acting as
legal counsel to Intermex's management in this transaction.
About FinTech Acquisition Corp. II
FinTech Acquisition Corp. II is a blank check company formed for
the purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination. In January 2017, FNTE consummated a $175 million
initial public offering (the “IPO”) of 17.5 million units, each
unit consisting of one share of common stock and one half of one
warrant, at a price of $10.00 per unit. Simultaneously, FNTE
consummated the sale of 420,000 units at a price of $10.00 per unit
in a private placement that generated gross proceeds of $4,200,000.
FNTE’s securities are quoted on the NASDAQ Stock Market under the
ticker symbols FNTE, FNTEW and FNTEU.
About Intermex
At Intermex, the customer is at the center of everything we do.
Intermex uses a proprietary financial technology that allows
consumers to send money from the United States to 17 countries in
Latin America and the Caribbean, including Mexico and Guatemala.
Intermex offers wire transfer, telewire, money order and other
processing services to its customers through its network of 85,000
sending and paying agents located in all 50 states, the District of
Columbia and Puerto Rico, and throughout Latin America. Our
remittance services are also available digitally through
intermexonline.com. Intermex was founded in 1994 and is
headquartered in Miami, Florida with offices in Puebla, Mexico, and
Guatemala City, Guatemala.
About Stella Point Capital
Stella Point Capital is a New York-based private equity firm
focused on industrial, consumer, and business services investments.
Founded in 2014 by Managing Partners Justin Wender and Adam
Godfrey, the firm actively seeks investment opportunities
throughout North America, working closely with management teams to
identify strong market positions and achieve transformational
growth. Stella Point’s investment team has over 75 years of
combined investing and operating experience, encompassing more than
35 investments, at their prior leading global private equity firms.
Stella Point provides unparalleled senior level attention and
expertise, seeking to cultivate strong relationships with portfolio
companies to generate superior investment returns and significant
long-term value. Please visit www.stellapoint.com for additional
information.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
“anticipate”, “believe”, “could”, “continue”, “expect”, “estimate”,
“may”, “plan”, “outlook”, “future” and “project” and other similar
expressions that predict or indicate future events or trends or
that are not statements of historical matters. These statements,
which involve risks and uncertainties, relate to analyses and other
information that are based on forecasts of future results and
estimates of amounts not yet determinable and may also relate to
our future prospects, developments and business strategies. In
particular, such forward-looking statements include statements
concerning the timing of the merger; the business plans,
objectives, expectations and intentions of the public company once
the transaction is complete, and Intermex’s estimated and future
results of operations, business strategies, competitive position,
industry environment and potential growth opportunities. These
statements are based on FNTE’s or Intermex’s management’s current
expectations and beliefs, as well as a number of assumptions
concerning future events.
Such forward-looking statements are subject to known and unknown
risks, uncertainties, assumptions and other important factors, many
of which are outside FNTE’s or Intermex’s control that could cause
actual results to differ materially from the results discussed in
the forward-looking statements. These risks, uncertainties,
assumptions and other important factors include, but are not
limited to, (1) the occurrence of any event, change or other
circumstances that could give rise to the termination of the merger
agreement; (2) the inability to complete the transactions
contemplated by the merger agreement due to the failure to satisfy
conditions to closing in the merger agreement; (3) the ability of
the public entity to meet NASDAQ’s listing standards following the
merger; (4) the risk that the proposed transaction disrupts current
plans and operations of Intermex as a result of the announcement
and consummation of the merger transactions; (5) the ability to
recognize the anticipated benefits of the proposed business
combination, which may be affected by, among other things,
competition, the ability of the combined company to grow and manage
growth profitably, maintain relationships with suppliers and retain
its management and key employees; (6) costs related to the proposed
business combination; (7) changes in applicable laws or
regulations; and (8) the possibility that Intermex may be adversely
affected by other economic, business, regulatory and/or competitive
factors. Additional factors that could cause actual results to
differ materially from those expressed or implied in
forward-looking statements can be found in FNTE’s most recent
annual report on Form 10-K and subsequently filed quarterly reports
on Form 10-Q and current reports on Form 8-K, which are available,
free of charge, at the SEC’s website at www.sec.gov, and in the
registration statement on Form S-4 and FNTE’s proxy
statement/prospectus. New risks and uncertainties arise from time
to time, and it is impossible for us to predict these events or how
they may affect us. You are cautioned not to place undue reliance
upon any forward-looking statements, which speak only as of the
date made, and FNTE and Intermex undertake no obligation to update
or revise the forward-looking statements, whether as a result of
new information, future events or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180723005198/en/
For FinTech Acquisition Corp. IIBradley Pitts, 305-671-8059SVP
Marketing and Communicationsbpitts@intermexusa.com
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