Announcement • Dec 23
Nasdaq Determines to Delist Securities of CF Acquisition Corp. VII On December 16, 2024, CF Acquisition Corp. VII (the Company") received a letter from the Listing Qualifications Department of The Nasdaq Stock Market (Nasdaq") stating that the staff of Nasdaq (Staff") has determined that
the Company's securities will be delisted from Nasdaq, trading of the Company's Class A common stock, warrants, and units will be suspended at the opening of business on December 23, 2024, and a Form 25-NSE (the Form 25")
will be filed with the Securities and Exchange Commission (the Commission"), which will remove the Company's securities from listing and registration on Nasdaq pursuant to Nasdaq Listing Rule IM-5101-2 (Rule IM-5101-2").
Under Rule IM-5101-2, a special purpose acquisition company must complete one or more business combinations within 36 months of the effectiveness of its initial public offering (IPO") registration statement. Since the Company failed to complete its initial business combination by December 15, 2024, the Company did not comply with Rule IM-5101-2, and its securities are now subject to delisting. The Company does not intend to appeal the Staff's determination but will instead liquidate and redeem its outstanding Public Shares. New Risk • Nov 16
New major risk - Revenue and earnings growth Earnings have declined by 26% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-US$12m). Earnings have declined by 26% per year over the past 5 years. Revenue is less than US$1m. Announcement • Dec 09
CF Acquisition Corp. VII, Annual General Meeting, Dec 29, 2023 CF Acquisition Corp. VII, Annual General Meeting, Dec 29, 2023, at 10:00 US Eastern Standard Time. Location: the offices of Ellenoff Grossman & Schole LLP, located at 1345 Avenue of the Americas, 11th Floor, New York, New York 10105. New York United States Agenda: To consider the proposal to ratify the selection by the audit committee of the board of directors of the Company (the “Board”) of WithumSmith+Brown, PC to serve as independent registered public accounting firm for the year ending December 31, 2023 (the “Auditor Ratification Proposal”).