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Reported Late Monday, FTAC Zeus Acquisition Corp. Announces Cancelation Of Special Meeting; The Company Decided To Cancel The Meeting Because The Amount Of Redemption Requests It Received Would Have Resulted In The Trust Account Falling Below $125M

Benzinga Real-time News ·  Dec 20, 2022 01:02

FTAC Zeus Acquisition Corp. (NASDAQ:ZING) (the "Company"), a blank-check company formed for the purpose of acquiring or merging with one or more businesses, today announced its decision to cancel its special meeting scheduled for Wednesday, December 21, 2022. The Company decided to cancel the meeting because the amount of redemption requests it received would have resulted in the trust account falling below $125 million. The Company had previously announced that it did not anticipate proceeding with the meeting if the trust account would fall below the $125 million threshold. The Company intends to continue in its purpose of consummating an initial business combination prior to its scheduled termination date in August 2023.

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