NEW
YORK, June 7, 2023 /PRNewswire/ -- CF
Acquisition Corp. IV (NASDAQ: CFIV)
(the "Company") today announced that, to mitigate the current
uncertainty surrounding the implementation of the Inflation
Reduction Act of 2022, in the event that the extension (the
"Extension") of the time period the Company has to complete an
initial business combination (the "Business Combination") is
implemented, as described in the proxy statement filed by the
Company on May 22, 2023 (the "Proxy
Statement"), in connection with its special meeting of stockholders
to be held on June 22, 2023 (the
"Meeting"), CFAC Holdings IV, LLC (the "Sponsor"), the
sponsor of the Company, or a designee, will indemnify the Company
for any reduction in the amount in the trust account as a result of
any excise tax liabilities to the extent of such reduction that
would otherwise be paid to any public stockholder exercising its
rights with respect to any future redemption opportunities that are
provided prior to or in connection with a Business Combination or
in respect of a liquidation of the Company. Additionally, if the
Extension is implemented, the Company plans to continue to maintain
the remaining amount in its trust account in an interest-bearing
demand deposit account at a bank.
If the Extension is implemented, the Sponsor has agreed to loan
to the Company, which will be deposited into the Company's trust
account: (i) the lesser of (x) $150,000 per month or (y) $0.03 per month for each public share that is not
redeemed (the "Monthly Amount") plus (ii) if the Business
Combination is not consummated by July 28, 2023, the Monthly
Amount for each calendar month that is needed by the Company to
complete the Business Combination until March 28, 2024.
About CF Acquisition Corp. IV
CF Acquisition Corp. IV is a special purpose acquisition company
formed for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses. The
Company's efforts to identify a prospective target business is not
limited to a particular industry or geographic region, but the
Company intends to focus on industries where its management team
and founders have experience, including the financial services,
healthcare, real estate services, technology and software
industries. CF Acquisition Corp. IV is led by Chairman and Chief
Executive Officer Howard W.
Lutnick.
Participants in the Solicitation
The Company and its directors and executive officers and other
persons may be deemed to be participants in the solicitation of
proxies from the Company's stockholders in respect of the
Extension. Information regarding the Company's directors and
executive officers is available in its annual report on Form 10-K
filed with the SEC. Additional information regarding the
participants in the proxy solicitation and a description of their
direct and indirect interests are contained in the Proxy
Statement.
No Offer or Solicitation
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any jurisdiction in which the offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.
No offering of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, as amended.
Additional Information
The Company has filed the Proxy Statement with the Securities
and Exchange Commission (the "SEC") in connection with the Meeting
and, beginning on May 23, 2023,
mailed the Proxy Statement and other relevant documents to its
stockholders as of the May 1, 2023 record date for the
Meeting. The Company's stockholders and other interested
persons are advised to read the Proxy Statement and any other
relevant documents that have been or will be filed with the SEC in
connection with the Company's solicitation of proxies for the
Meeting because these documents will contain important information
about the Company, the Extension and related matters. Stockholders
may also obtain a free copy of the Proxy Statement, as well as
other relevant documents that have been or will be filed with the
SEC, without charge, at the SEC's website located
at www.sec.gov or by directing a request to Morrow
Sodali, LLC at (800) 662-5200 (toll free) or by email at
CFIV.info@investor.morrowsodali.com.
Forward-Looking Statements
This press release and oral statements made from time to time by
representatives of the Company may include "forward-looking
statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements other
than statements of historical fact included in this press release
are forward-looking statements. When used in this press release,
words such as "anticipate," "believe," "continue," "could,"
"estimate," "expect," "intend," "may," "might," "plan," "possible,"
"potential," "predict," "project," "should," "would" and similar
expressions, as they relate to the Company or its management team,
identify forward-looking statements. Such forward-looking
statements are based on the beliefs of the Company's management, as
well as assumptions made by, and information currently available
to, the Company's management. Actual results could differ
materially from those contemplated by the forward-looking
statements as a result of certain factors detailed in the Company's
filings with the SEC. All subsequent written or oral
forward-looking statements attributable to the Company or persons
acting on its behalf are qualified in their entirety by this
paragraph. Forward-looking statements are subject to numerous
conditions, many of which are beyond the control of the Company,
including those set forth in the Risk Factors section of the
Company's registration statement and prospectus for the Company's
initial public offering filed with the SEC. The Company undertakes
no obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
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SOURCE CF Acquisition Corp. IV