View Future GrowthThis company listing is no longer activeThis company may still be operating, however this listing is no longer active. Find out why through their latest events.See Latest EventsFintech Ecosystem Development 과거 순이익 실적과거 기준 점검 2/6지난 몇 년간 Fintech Ecosystem Development 의 실적에 대한 데이터가 부족합니다.핵심 정보n/a순이익 성장률n/a주당순이익(EPS) 성장률Capital Markets 산업 성장률10.26%매출 성장률n/a자기자본이익률n/a순이익률n/a최근 순이익 업데이트30 Jun 2023최근 과거 실적 업데이트업데이트 없음모든 업데이트 보기Recent updates공시 • Aug 21Fintech Ecosystem Development Corp.(NasdaqCM:FEXD) dropped from NASDAQ Composite IndexFintech Ecosystem Development Corp. has dropped from the NASDAQ Composite Index .New Risk • Aug 16New major risk - Financial data availabilityThe company's latest financial reports are more than a year old. Last reported fiscal period ended June 2023. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported June 2023 fiscal period end). Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shares are highly illiquid. Negative equity (-US$6.8m). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (US$49.9m market cap).공시 • Jul 26Fintech Ecosystem Development Receives a Written Notice from the Staff of the Listing Qualifications Department of the Nasdaq Stock MarketOn July 19, 2024, Fintech Ecosystem Development Corp. received a written notice from the Staff of the Listing Qualifications Department of the Nasdaq Stock Market LLC, notifying the Company that, for the last 30 consecutive business days, the Company’s Market Value of Listed Securities (“MVLS”) was below the minimum of $35 million required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(b)(2). The Staff also noted that the Company does not meet the requirements under Nasdaq Listing Rule 5550(b)(1) (Equity Standard: maintaining stockholders’ equity of at least $2.5 million) and Nasdaq Listing Rule 5550(b)(3) (Net Income Standard: maintaining net income from continuing operations of at least $500,000 in the most recently completed fiscal year or in two of the three most recently completed fiscal years). The Notice provided that, in accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has a period of 180 calendar days from the date of the Notice, or until January 15, 2025, to regain compliance with the Market Value Standard. During this period, the Company’s securities will continue to trade on The Nasdaq Capital Market. To regain compliance with the Market Value Standard, the Company’s MVLS must close at $35 million or more for a minimum of ten consecutive business days during prior to the Compliance Date. If the Company does not regain compliance with the Market Value Standard by the Compliance Date, the Staff will provide a written notification to the Company that its securities are subject to delisting. At that time, the Company may appeal the Staff’s delisting determination to a Hearings Panel. The Company intends to monitor its MVLS between now and the Compliance Date, and may, if appropriate, evaluate available options to resolve the deficiency under the Market Value Standard and regain compliance with the Market Value Standard. The Company believes that it will be able to demonstrate that its securities comply with the Market Value Standard prior to the Compliance Date. However, there can be no assurance that the Company will be able to regain or maintain compliance.Board Change • Apr 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Robin Sue Meister was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.New Risk • Mar 03New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Negative equity (-US$6.8m). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (US$74.8m market cap).공시 • Dec 27Fintech Ecosystem Development Receives Written Notice from Nasdaq Due to Delay in Filing Form 10-QOn December 21, 2023, Fintech Ecosystem Development Corp. (the ‘Company’) received a written notice (the ‘Notice’) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (‘Nasdaq’) indicating that since the Company has not yet filed its Form 10-Q for the period ended September 30, 2023 (the ‘Form 10-Q’), the Company is no longer in compliance with Listing Rule 5250(c)(1) (the ‘Rule’), which requires the Company to timely file all required periodic financial reports with the U.S. Securities and Exchange Commission (the ‘SEC’). The Notice is only a notification of a deficiency and not a notification of imminent delisting. The Notice does not have a current effect on the listing or trading of the Company’s securities on the Nasdaq Capital Market. The Notice states that the Company, pursuant to the listing rules, has 60 calendar days to submit a plan to regain compliance. If Nasdaq accepts the Company’s plan, Nasdaq may grant the Company an extension of up to 180 calendar days from the Form 10-Q’s due date, or until May 13, 2024 to regain compliance with the Rule. If Nasdaq does not accept the Company’s plan, the Company will have the opportunity to appeal the decision in front of a Nasdaq Hearings Panel pursuant to Listing Rule 5815(a). The Company anticipates that it will file the Form 10-Q within the 60 calendar days, eliminating the applicability of submission of a plan to regain compliance.공시 • Nov 15Fintech Ecosystem Development Corp. announced delayed 10-Q filingOn 11/14/2023, Fintech Ecosystem Development Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.공시 • Aug 25Fintech Ecosystem Development Receives a Written Notice from the Staff of the Listing Qualifications Department of the Nasdaq Stock MarketOn August 21, 2023, Fintech Ecosystem Development Corp., received a written notice from the Staff of the Listing Qualifications Department of the Nasdaq Stock Market LLC, notifying the Company that, for the last 30 consecutive business days, the Company’s Market Value of Listed Securities was below the minimum of $50 million required for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(b)(2)(A). The Staff also noted that the Company does not meet the requirements under Nasdaq Listing Rule 5450(b)(3)(A) (Total Assets/Total Revenue Standard). The Notice provided that, in accordance with Nasdaq Listing Rule 5810(c)(3)(C) (the “Compliance Period Rule”), the Company has a period of 180 calendar days from the date of the Notice, or until February 20, 2024 (the “Compliance Date”), to regain compliance with the Market Value Standard. During this period, the Company’s securities will continue to trade on The Nasdaq Global Market. If the Company does not regain compliance with the Market Value Standard by the Compliance Date, the Staff will provide a written notification to the Company that its securities are subject to delisting. At that time, the Company may appeal the Staff’s delisting determination to a Hearings Panel (the “Panel”). The Company intends to monitor its MVLS between now and the Compliance Date, and may, if appropriate, evaluate available options to resolve the deficiency under the Market Value Standard and regain compliance with the Market Value Standard. The Company believes that it will be able to demonstrate that its securities comply with the Market Value Standard prior to February 20, 2024. However, there can be no assurance that the Company will be able to regain or maintain compliance.공시 • Aug 12Fintech Ecosystem Development Receives Letter from Nasdaq Stock Market LLC Regarding Non-Compliance with the Minimum 400 Total Holder RequirementOn August 10, 2023, Fintech Ecosystem Development Corp. received a letter from the Staff of the Listing Qualifications Department (the ‘Staff’) of the Nasdaq Stock Market LLC, stating that the Staff has determined that the Company has not complied with the requirements of the Nasdaq Listing Rules because the Company has not demonstrated that its securities comply with the minimum 400 Total Holder requirement. The letter from the Staff indicated that the Company has until September 25, 2023 to submit a plan to regain compliance. If Nasdaq does not accept the plan, the Company will have the opportunity to appeal the decision to a Nasdaq Hearings Panel (the ‘Panel’). The Company intends to timely regain compliance and to request the aforementioned hearing and appeal Nasdaq’s determination, which request will stay the suspension of the Company’s common stock and warrants and the filing by Nasdaq of a Form 25-NSE pending the Panel’s decision. The Company believes that it will be able to demonstrate that its common stock complies with the Total Holder Requirement prior to September 25, 2023. However, there can be no assurance that the Company will be able to satisfy the Total Holder Requirement prior to the hearing date or at all.공시 • May 26Fintech Ecosystem Development Corp. Receives Notice from NasdaqOn May 23, 2023, Fintech Ecosystem Development Corp. received a notice from the Staff of the Listing Qualifications Department of the Nasdaq Stock Market LLC, stating that the Company is not in compliance with the continued listing standards of Nasdaq Capital Markets (the “Exchange”) under the timely filing criteria included in Listing Rule 5250(c)(1) because the Company failed to timely file with the Securities and Exchange Commission (the “SEC”) its Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 (the “Form 10-Q”). On May 24, 2023, the Company filed the Form 10-Q to cure the delinquency.공시 • May 16Fintech Ecosystem Development Corp. announced delayed 10-Q filingOn 05/15/2023, Fintech Ecosystem Development Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.공시 • Oct 22Fintech Ecosystem Development Corp. announced that it has received $1.15 million in funding from Revofast LLCOn October 21, 2022, Fintech Ecosystem Development Corp. closed the transaction.공시 • Sep 14Rana Financial, Inc. entered into a definitive agreement to acquire Fintech Ecosystem Development Corp. (NasdaqGM:FEXD) from Revofast LLC and others for $78.9 million.Rana Financial, Inc. entered into a definitive agreement to acquire Fintech Ecosystem Development Corp. (NasdaqGM:FEXD) from Revofast LLC and others for $78.9 million in a reverse merger transaction on September 9, 2022. FEXD shall pay a combination of Rana Cash Consideration of $7.8 million and Rana Equity Consideration of 7.02 million shares subject to adjustments for Working Capital and Debt, which adjustments shall be secured by an escrow amount equal to $5.7 million (the “ Rana Escrow Amount ”). In a related transaction, Fintech Ecosystem Development Corp. entered into a definitive agreement to acquire Mobitech International LLC (Afinoz) at an enterprise value of $120 million. A subsidiary of FEXD will be merged with and into Rana, and FEXD will purchase Afinoz, with Rana and Afinoz surviving the transactions as wholly-owned subsidiaries of FEXD. Upon closing the transactions, the combined company is expected to remain listed on the NASDAQ and trade under the existing ticker symbol "FEXD". The boards of directors of both FEXD, Rana and Afinoz have unanimously approved the proposed transactions, subject to, among other things, the approval by FEXD's stockholders, the shares of New Acquiror Class A Common Stock to be issued in connection with the Proposed Rana Transactions shall have been approved for listing on Nasdaq and satisfaction or waiver of the other conditions stated in the definitive documentation. The deal is expected to be completed in the first quarter of 2023. Constantine Petropoulos of Hughes Hubbard & Reed LLP is serving as legal advisor and Houlihan Capital is serving as financial advisors to FEXD. David Kretzmer of Kretzmer & Associates, PLLC is serving as legal advisor to Rana. EF Hutton, division of Benchmark Investments, LLC, is serving as capital markets advisor.공시 • Sep 13Fintech Ecosystem Development Corp. (NasdaqGM:FEXD) entered into a definitive agreement to acquire Rana Financial, Inc. at an enterprise value of $78 million.Fintech Ecosystem Development Corp. (NasdaqGM:FEXD) entered into a definitive agreement to acquire Rana Financial, Inc. at an enterprise value of $78 million on September 12, 2022. In a related transaction, Fintech Ecosystem Development Corp. entered into a definitive agreement to acquire Mobitech International LLC (Afinoz) at an enterprise value of $120 million. A subsidiary of FEXD will be merged with and into Rana, and FEXD will purchase Afinoz, with Rana and Afinoz surviving the transactions as wholly-owned subsidiaries of FEXD. Upon closing the transactions, the combined company is expected to remain listed on the NASDAQ and trade under the existing ticker symbol "FEXD". The boards of directors of both FEXD, Rana and Afinoz have unanimously approved the proposed transactions, which are expected to be completed in the first quarter of 2023, subject to, among other things, the approval by FEXD's stockholders and satisfaction or waiver of the other conditions stated in the definitive documentation. Hughes Hubbard & Reed LLP is serving as legal advisor and Houlihan Capital is serving as financial advisors to FEXD. David Kretzmer & Associates is serving as legal advisor to Rana. EF Hutton, division of Benchmark Investments, LLC, is serving as capital markets advisor.매출 및 비용 세부 내역Fintech Ecosystem Development가 돈을 벌고 사용하는 방법. 최근 발표된 LTM 실적 기준.순이익 및 매출 추이NasdaqCM:FEXD 매출, 비용 및 순이익 (USD Millions)날짜매출순이익일반관리비연구개발비30 Jun 23024031 Mar 23032031 Dec 22042030 Sep 22002030 Jun 22001031 Mar 220-100양질의 수익: FEXD는 고품질 수익을 보유하고 있습니다.이익 마진 증가: FEXD는 과거에 흑자전환했습니다.잉여현금흐름 대비 순이익 분석과거 순이익 성장 분석수익추이: 지난 5년 동안 FEXD의 연간 수익 성장률이 양(+)이었는지 판단하기에 데이터가 부족합니다.성장 가속화: FEXD는 지난해 흑자전환하여 5년 평균과 수익 성장률을 비교하기 어렵습니다.수익 대 산업: FEXD는 지난해 흑자전환하여 지난 해 수익 성장률을 Capital Markets 업계(36.2%)와 비교하기 어렵습니다.자기자본이익률높은 ROE: FEXD의 부채가 자산을 초과하여 자본 수익률을 계산하기 어렵습니다.총자산이익률투하자본수익률우수한 과거 실적 기업을 찾아보세요7D1Y7D1Y7D1YDiversified-financials 산업에서 과거 실적이 우수한 기업.View Financial Health기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2024/08/20 08:59종가2024/08/20 00:00수익2023/06/30연간 수익2022/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Fintech Ecosystem Development Corp.는 0명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.
공시 • Aug 21Fintech Ecosystem Development Corp.(NasdaqCM:FEXD) dropped from NASDAQ Composite IndexFintech Ecosystem Development Corp. has dropped from the NASDAQ Composite Index .
New Risk • Aug 16New major risk - Financial data availabilityThe company's latest financial reports are more than a year old. Last reported fiscal period ended June 2023. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported June 2023 fiscal period end). Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shares are highly illiquid. Negative equity (-US$6.8m). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (US$49.9m market cap).
공시 • Jul 26Fintech Ecosystem Development Receives a Written Notice from the Staff of the Listing Qualifications Department of the Nasdaq Stock MarketOn July 19, 2024, Fintech Ecosystem Development Corp. received a written notice from the Staff of the Listing Qualifications Department of the Nasdaq Stock Market LLC, notifying the Company that, for the last 30 consecutive business days, the Company’s Market Value of Listed Securities (“MVLS”) was below the minimum of $35 million required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(b)(2). The Staff also noted that the Company does not meet the requirements under Nasdaq Listing Rule 5550(b)(1) (Equity Standard: maintaining stockholders’ equity of at least $2.5 million) and Nasdaq Listing Rule 5550(b)(3) (Net Income Standard: maintaining net income from continuing operations of at least $500,000 in the most recently completed fiscal year or in two of the three most recently completed fiscal years). The Notice provided that, in accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has a period of 180 calendar days from the date of the Notice, or until January 15, 2025, to regain compliance with the Market Value Standard. During this period, the Company’s securities will continue to trade on The Nasdaq Capital Market. To regain compliance with the Market Value Standard, the Company’s MVLS must close at $35 million or more for a minimum of ten consecutive business days during prior to the Compliance Date. If the Company does not regain compliance with the Market Value Standard by the Compliance Date, the Staff will provide a written notification to the Company that its securities are subject to delisting. At that time, the Company may appeal the Staff’s delisting determination to a Hearings Panel. The Company intends to monitor its MVLS between now and the Compliance Date, and may, if appropriate, evaluate available options to resolve the deficiency under the Market Value Standard and regain compliance with the Market Value Standard. The Company believes that it will be able to demonstrate that its securities comply with the Market Value Standard prior to the Compliance Date. However, there can be no assurance that the Company will be able to regain or maintain compliance.
Board Change • Apr 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Independent Director Robin Sue Meister was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
New Risk • Mar 03New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Negative equity (-US$6.8m). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (US$74.8m market cap).
공시 • Dec 27Fintech Ecosystem Development Receives Written Notice from Nasdaq Due to Delay in Filing Form 10-QOn December 21, 2023, Fintech Ecosystem Development Corp. (the ‘Company’) received a written notice (the ‘Notice’) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (‘Nasdaq’) indicating that since the Company has not yet filed its Form 10-Q for the period ended September 30, 2023 (the ‘Form 10-Q’), the Company is no longer in compliance with Listing Rule 5250(c)(1) (the ‘Rule’), which requires the Company to timely file all required periodic financial reports with the U.S. Securities and Exchange Commission (the ‘SEC’). The Notice is only a notification of a deficiency and not a notification of imminent delisting. The Notice does not have a current effect on the listing or trading of the Company’s securities on the Nasdaq Capital Market. The Notice states that the Company, pursuant to the listing rules, has 60 calendar days to submit a plan to regain compliance. If Nasdaq accepts the Company’s plan, Nasdaq may grant the Company an extension of up to 180 calendar days from the Form 10-Q’s due date, or until May 13, 2024 to regain compliance with the Rule. If Nasdaq does not accept the Company’s plan, the Company will have the opportunity to appeal the decision in front of a Nasdaq Hearings Panel pursuant to Listing Rule 5815(a). The Company anticipates that it will file the Form 10-Q within the 60 calendar days, eliminating the applicability of submission of a plan to regain compliance.
공시 • Nov 15Fintech Ecosystem Development Corp. announced delayed 10-Q filingOn 11/14/2023, Fintech Ecosystem Development Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.
공시 • Aug 25Fintech Ecosystem Development Receives a Written Notice from the Staff of the Listing Qualifications Department of the Nasdaq Stock MarketOn August 21, 2023, Fintech Ecosystem Development Corp., received a written notice from the Staff of the Listing Qualifications Department of the Nasdaq Stock Market LLC, notifying the Company that, for the last 30 consecutive business days, the Company’s Market Value of Listed Securities was below the minimum of $50 million required for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(b)(2)(A). The Staff also noted that the Company does not meet the requirements under Nasdaq Listing Rule 5450(b)(3)(A) (Total Assets/Total Revenue Standard). The Notice provided that, in accordance with Nasdaq Listing Rule 5810(c)(3)(C) (the “Compliance Period Rule”), the Company has a period of 180 calendar days from the date of the Notice, or until February 20, 2024 (the “Compliance Date”), to regain compliance with the Market Value Standard. During this period, the Company’s securities will continue to trade on The Nasdaq Global Market. If the Company does not regain compliance with the Market Value Standard by the Compliance Date, the Staff will provide a written notification to the Company that its securities are subject to delisting. At that time, the Company may appeal the Staff’s delisting determination to a Hearings Panel (the “Panel”). The Company intends to monitor its MVLS between now and the Compliance Date, and may, if appropriate, evaluate available options to resolve the deficiency under the Market Value Standard and regain compliance with the Market Value Standard. The Company believes that it will be able to demonstrate that its securities comply with the Market Value Standard prior to February 20, 2024. However, there can be no assurance that the Company will be able to regain or maintain compliance.
공시 • Aug 12Fintech Ecosystem Development Receives Letter from Nasdaq Stock Market LLC Regarding Non-Compliance with the Minimum 400 Total Holder RequirementOn August 10, 2023, Fintech Ecosystem Development Corp. received a letter from the Staff of the Listing Qualifications Department (the ‘Staff’) of the Nasdaq Stock Market LLC, stating that the Staff has determined that the Company has not complied with the requirements of the Nasdaq Listing Rules because the Company has not demonstrated that its securities comply with the minimum 400 Total Holder requirement. The letter from the Staff indicated that the Company has until September 25, 2023 to submit a plan to regain compliance. If Nasdaq does not accept the plan, the Company will have the opportunity to appeal the decision to a Nasdaq Hearings Panel (the ‘Panel’). The Company intends to timely regain compliance and to request the aforementioned hearing and appeal Nasdaq’s determination, which request will stay the suspension of the Company’s common stock and warrants and the filing by Nasdaq of a Form 25-NSE pending the Panel’s decision. The Company believes that it will be able to demonstrate that its common stock complies with the Total Holder Requirement prior to September 25, 2023. However, there can be no assurance that the Company will be able to satisfy the Total Holder Requirement prior to the hearing date or at all.
공시 • May 26Fintech Ecosystem Development Corp. Receives Notice from NasdaqOn May 23, 2023, Fintech Ecosystem Development Corp. received a notice from the Staff of the Listing Qualifications Department of the Nasdaq Stock Market LLC, stating that the Company is not in compliance with the continued listing standards of Nasdaq Capital Markets (the “Exchange”) under the timely filing criteria included in Listing Rule 5250(c)(1) because the Company failed to timely file with the Securities and Exchange Commission (the “SEC”) its Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 (the “Form 10-Q”). On May 24, 2023, the Company filed the Form 10-Q to cure the delinquency.
공시 • May 16Fintech Ecosystem Development Corp. announced delayed 10-Q filingOn 05/15/2023, Fintech Ecosystem Development Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.
공시 • Oct 22Fintech Ecosystem Development Corp. announced that it has received $1.15 million in funding from Revofast LLCOn October 21, 2022, Fintech Ecosystem Development Corp. closed the transaction.
공시 • Sep 14Rana Financial, Inc. entered into a definitive agreement to acquire Fintech Ecosystem Development Corp. (NasdaqGM:FEXD) from Revofast LLC and others for $78.9 million.Rana Financial, Inc. entered into a definitive agreement to acquire Fintech Ecosystem Development Corp. (NasdaqGM:FEXD) from Revofast LLC and others for $78.9 million in a reverse merger transaction on September 9, 2022. FEXD shall pay a combination of Rana Cash Consideration of $7.8 million and Rana Equity Consideration of 7.02 million shares subject to adjustments for Working Capital and Debt, which adjustments shall be secured by an escrow amount equal to $5.7 million (the “ Rana Escrow Amount ”). In a related transaction, Fintech Ecosystem Development Corp. entered into a definitive agreement to acquire Mobitech International LLC (Afinoz) at an enterprise value of $120 million. A subsidiary of FEXD will be merged with and into Rana, and FEXD will purchase Afinoz, with Rana and Afinoz surviving the transactions as wholly-owned subsidiaries of FEXD. Upon closing the transactions, the combined company is expected to remain listed on the NASDAQ and trade under the existing ticker symbol "FEXD". The boards of directors of both FEXD, Rana and Afinoz have unanimously approved the proposed transactions, subject to, among other things, the approval by FEXD's stockholders, the shares of New Acquiror Class A Common Stock to be issued in connection with the Proposed Rana Transactions shall have been approved for listing on Nasdaq and satisfaction or waiver of the other conditions stated in the definitive documentation. The deal is expected to be completed in the first quarter of 2023. Constantine Petropoulos of Hughes Hubbard & Reed LLP is serving as legal advisor and Houlihan Capital is serving as financial advisors to FEXD. David Kretzmer of Kretzmer & Associates, PLLC is serving as legal advisor to Rana. EF Hutton, division of Benchmark Investments, LLC, is serving as capital markets advisor.
공시 • Sep 13Fintech Ecosystem Development Corp. (NasdaqGM:FEXD) entered into a definitive agreement to acquire Rana Financial, Inc. at an enterprise value of $78 million.Fintech Ecosystem Development Corp. (NasdaqGM:FEXD) entered into a definitive agreement to acquire Rana Financial, Inc. at an enterprise value of $78 million on September 12, 2022. In a related transaction, Fintech Ecosystem Development Corp. entered into a definitive agreement to acquire Mobitech International LLC (Afinoz) at an enterprise value of $120 million. A subsidiary of FEXD will be merged with and into Rana, and FEXD will purchase Afinoz, with Rana and Afinoz surviving the transactions as wholly-owned subsidiaries of FEXD. Upon closing the transactions, the combined company is expected to remain listed on the NASDAQ and trade under the existing ticker symbol "FEXD". The boards of directors of both FEXD, Rana and Afinoz have unanimously approved the proposed transactions, which are expected to be completed in the first quarter of 2023, subject to, among other things, the approval by FEXD's stockholders and satisfaction or waiver of the other conditions stated in the definitive documentation. Hughes Hubbard & Reed LLP is serving as legal advisor and Houlihan Capital is serving as financial advisors to FEXD. David Kretzmer & Associates is serving as legal advisor to Rana. EF Hutton, division of Benchmark Investments, LLC, is serving as capital markets advisor.