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Fintech Ecosystem Development Corp. - FEXD

  • Commons

    $9.98

    -0.40%

    FEXD Vol: 208.0

  • Warrants

    $0.09

    -10.00%

    FEXDW Vol: 800.0

  • Units

    $10.12

    +0.00%

    FEXDU Vol: 0.0

Average: 0
Rating Count: 0
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SPAC Stats

Market Cap: 115.3M
Average Volume: 3.5K
52W Range: $9.82 - $10.55
Weekly %: -0.10%
Monthly %: -0.08%
Inst Owners: 0

Info

Target: Searching
Days Since IPO: 256
Unit composition:
Each unit has an offering price of $10.00 and consists of (i) one share of our Class A common stock, (ii) one right and (iii) one-half of one redeemable warrant
Trust Size: 10000000.0M

🕵Stocktwit Mentions

dividendinvestorbyeagle posted at 2022-06-08T12:37:23Z

$FEXD hit 52 week high (Fintech Ecosystem Development Corp) https://www.dividendinvestor.com/dividend-news/?symbol=fexd

Last10K posted at 2022-05-09T20:57:42Z

$FEXD just filed a 10-Q Quarterly Report with 33 sections and 4 exhibits. Access them all or just read their earnings: https://last10k.com/sec-filings/fexd/0001193125-22-144981.htm?utm_source=stocktwits&utm_medium=forum&utm_campaign=10KQ2040F&utm_term=fexd

Quantisnow posted at 2022-05-09T20:12:49Z

$FEXD 📜 SEC Form 10-Q filed by Fintech Ecosystem Development Corp. https://quantisnow.com/i/2852778?utm_source=stocktwits 45 seconds delayed. This insight appeared in real-time at 🚆 https://quantisnow.com/feed 🚆

Newsfilter posted at 2022-05-09T20:12:01Z

$FEXD Form 10-Q (quarterly report [sections 13 or 15(d)]) filed with the SEC https://newsfilter.io/a/ccf295c992b6f0dc961f3450a6dc5edd

Management

Officers, Directors and Director Nominees Our current officers, directors and director nominees are as follows: Name Age Title Dr. Saiful Khandaker 57 Chief Executive Officer, Director Jenny Junkeer 41 Chief Financial Officer Mubasshir Karim 24 Director Nominee Michael S. Tomczyk 72 Director Nominee Robin Meister 62 Director Nominee Lynn Perkins 59 Director Nominee Our management team is led by Dr. Saiful Khandaker, D.M., our Chief Executive Officer and director, and Jenny Junkeer, our Chief Financial Officer, who will both be supported by our non-executive directors. Dr. Saiful Khandaker Dr. Khandaker is Group Chief Executive Officer and Founder of FAMA Holdings, Inc., a global developer of FinTech platforms, applications and services established in 2009. FAMA is based in the U.S. with offices in the U.K., India, Bangladesh and Zambia. Dr. Khandaker is currently leading the development of the FAMACASH™ network, a global FinTech ecosystem that is integrating blockchain, artificial intelligence and cloud computing technologies to provide fast, affordable mobile money services in under-served countries such as Bangladesh. To implement the FAMACASH network, Dr. Khandaker has negotiated partnerships and joint ventures with financial service providers and technology leaders in many countries, including a joint venture with Sonali Bank, the national bank of Bangladesh. This joint venture provides a mobile wallet called SonaliPay™ that enables Bangladeshi diaspora workers to use smartphones and laptops to send money to Bangladesh. Dr. Khandaker has also led the development of a stablecoin product called REMIT™ to facilitate cross-border money transfers, as well as a cross-border e-wallet called AfriPay™ to help Africans working overseas, and a neo-bank for Muslim workers called Tohura™. Before founding FAMA, Dr. Khandaker spent more than two decades leading the development of software solutions for Fortune 100 companies as well as startups. He designed the architecture and managed networks that provided airline flight scheduling for Delta Airlines, cellular billing applications for AT&T and BellSouth, and network management software for Cox Communications; and established and managed GE’s outsourcing operation in Bangladesh. He also helped numerous clients modernize their FinTech services as Chief Technology Officer at Mi3. Since 2018 he has served as President of the U.S.-Bangladesh Technology Association of North America. Dr. Khandaker has received numerous industry awards including a top innovation award from the Wireless Technology Forum, a top 40 software company award from the Technology Association of Georgia, and the National FinTech Award in Bangladesh. He has conducted seminars and workshops on cross-border payments and Blockchain systems for bank executives and regulators and senior decision makers across industries. He holds a Doctor of Management degree in Organizational Leadership from University of Phoenix, a Master of Science degree in Technology Management from Mercer University, Stetson School of Business and Economics, and a Bachelor of Science degree in Computer Information Systems from DeVry University. Jenny Junkeer Jenny Junkeer is a Chartered Accountant with over 17 years’ experience in financial management and consulting. As CEO of Junkeer New Era Consulting, she leads a team of consultants specializing in helping 115 Table of Contents companies launch and optimize business operations in fast-changing industries. Her clients range from small and medium enterprises to large multi-nationals. As a senior level consultant in business acceleration, Jenny has extensive experience helping organizations scale their operations to maximize value. Jenny is an Adjunct Association Professor at Deakin University in Melbourne, Australia, a Board Member of the Global Health Initiative Foundation, and Director of Implementation at ConnectCV. She holds a Bachelor of Commerce Degree (Honors) from Monash University. Non-Executive Directors Mubasshir Karim Along with Dr. Saiful Khandaker, Mubasshir Karim will serve as one of our two non-independent directors. Mr. Karim is the Director of Operations at FAMA and has managed global cross-functional teams in the UK, India, Bangladesh, and Zambia for technical development, sales, marketing, and customer support functions. Mubasshir is experienced with third-party application programing interface integrations, the development of blockchain cross-border payment systems, and the development of identity management solutions. He is a certified project management professional, has a Bachelor of Science degree in Computer Science from Wichita State University, and is pursuing an Executive Master of Business Administration from Ohio University. Michael S. Tomczyk Michael S. Tomczyk will serve as one of our three independent directors. He is an authority on best practices and strategies for managing emerging technologies and applications. For 18 years he led innovation initiatives at the prestigious Wharton School at the University of Pennsylvania as Managing Director of the Mack Institute for Innovation Management, Mack Center for Technological Innovation and Emerging Technologies Research Program. He also served as Innovator in Residence at Villanova University and was a member of the Advanced Computing committee at Temple University. For 10 years he was a member of the Translational Medicine Committee at the University of Pennsylvania Medical School. His degrees include an Masters of Business Administration from UCLA, a Masters in Environmental Studies from the University of Pennsylvania, and a BA in literature and journalism from the University of Wisconsin-Oshkosh. He was a captain in the United States Army, where he was awarded the Bronze Star. Robin Meister Robin Meister will also serve as one of our three independent directors. Ms. Meister is a seasoned C-Suite executive with extensive expertise in global financial services, risk management and regulation. Robin understands the regulatory challenges and opportunities facing the financial services industry, with special expertise helping businesses to navigate complex regulatory challenges. She has extensive experience in international sanctions, regulatory regimes and money laundering safeguards. She spent over 20 years in senior management positions at BNP Paribas, most recently as Head of U.S. Regulatory Affairs. Her global experience includes managing risk assets in the United States, Asia-Pacific and European Union. Robin has served as a director on the boards of global asset management companies as well as public and private funds. She is experienced in managing critical issues facing the governance, audit and risk committees of boards of directors. She began her career as a futures trader and currently teaches financial services regulation to law students as an adjunct faculty member of New York Law School. Robin earned a Juris Doctor degree from New York Law School, a BS in Finance and BA in Economics from State University of New York. Lynn Perkins Lynn Perkins will serve alongside Michael Tomczyk and Robin Meister as an independent director. Ms. Perkins is an accomplished senior executive with extensive experience as a chief financial officer, chief operating officer and chief administrative officer at major asset management businesses and global investment 116 Table of Contents banks. Her expertise includes growth management, strategic planning and modeling, organizational development, and management of financial systems and processes. For seven years she served as Chief Financial Officer/Senior Vice President at First Eagle Investment Management, based in New York. Previously she was Managing Director, Global Chief Operating Officer, Asset Management Distribution and Marketing at Credit Suisse (New York), and Founding Partner and Chief Administrative Officer at Perella Weinberg Partners. For 20 years she held a variety of senior management positions at Morgan Stanley, including Chief Operating Officer, Investment Banking Division and Head of Institutional Liquidity Sales. As a business leader, Lynn is known for her integrity, work ethic and empathy. She is a Certified Public Accountant and holds a BA in Accounting and Economics from the University of North Carolina. She is a Board Member at CMC Berkshires and Brighter Watts. The past performance of the members of our management team is not a guarantee that we will be able to identify a suitable candidate for our initial business combination or of success with respect to any business combination we may consummate. You should not rely on the historical record of the performance of our management team as indicative of our future performance. Additionally, in the course of their respective careers, members of our management team have been involved in businesses and deals that were unsuccessful. None of our officers and directors has experience with special purpose acquisition companies. Number and Terms of Office of Officers and Directors Upon the closing of the offering, our board of directors will be divided into two classes with only one class of directors being elected in each year and each class (except for those directors appointed prior to our first annual meeting of stockholders) serving a one-year term. The class I directors will consist of Robin Meister and Mubasshir Karim, and their term will expire at our first annual meeting of stockholders. The class II directors will consist of Michael Tomczyk, Lynn Perkins and Saiful Khandaker and their term will expire at the second annual meeting of stockholders. We may not hold an annual meeting of stockholders until after we consummate our initial business combination. Our officers are elected by the board of directors and serve at the discretion of the board of directors, rather than for specific terms of office. Our board of directors is authorized to appoint persons to the offices set forth in our bylaws as it deems appropriate. Our bylaws provide that our officers may consist of a Chief Executive Officer, President, Chief Financial Officer, Vice Presidents, Secretary, Assistant Secretaries, Treasurer and such other offices as may be determined by the board of directors. Director Independence The rules of Nasdaq require that a majority of our board of directors be independent. An “independent director” is defined generally as a person other than an officer or employee of the company or its subsidiaries or any other individual having a relationship with the company which in the opinion of the company’s board of directors, could interfere with the director’s exercise of independent judgment in carrying out the responsibilities of a director. Upon the effectiveness of the registration statement of which this prospectus forms a part, we expect to have “independent directors” as defined in Nasdaq’s listing standards and applicable SEC rules. Our board of directors has determined that Michael S. Tomczyk, Robin Meister and Lynn Perkins are “independent directors” as defined in Nasdaq’s listing standards and applicable SEC rules. Our independent directors will have regularly scheduled meetings at which only independent directors are present. Executive Officer and Director Compensation On March 27, 2021, our sponsor sold 15,000 founder shares to our Chief Financial Officer, Jenny Junkeer, and 10,000 founder shares to each of our three independent directors, Michael Tomczyk, Robin Meister 117 Table of Contents and Lynn Perkins, in each case, at a price of $0.009 per share, the same price at which our sponsor purchased such founder shares from the company. The founder shares held by our independent directors are not subject to forfeiture in the event that the underwriters’ over-allotment is not exercised. None of our executive officers or director nominees have received any cash compensation for services rendered to us. Commencing on the effective date of the registration statement of which this prospectus forms a part through the earlier of 24 months after such effective date or the consummation of our initial business combination, we will pay our sponsor $5,000 per month for providing us with office space, utilities, secretarial and administrative services. However, this arrangement is solely for our benefit and is not intended to provide our officers or directors compensation in lieu of a salary. Our sponsor, executive officers and directors, or any of their respective affiliates, will be reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. There is no limit on the amount of out-of-pocket expenses reimbursable by us; provided, however, that to the extent such expenses exceed the available proceeds not deposited in the trust account, such expenses would not be reimbursed by us unless we consummate an initial business combination. Our audit committee will review and approve all reimbursements and payments made to our sponsor, officers, directors or our or their respective affiliates, with any interested director abstaining from such review and approval. Other than the $5,000 per month administrative fee for office space, utilities, secretarial and administrative services, and the reimbursement for out-of-pocket expenses, no compensation or fees of any kind will be paid to our sponsor, members of our management team or their respective affiliates, for services rendered prior to or in connection with the consummation of our initial business combination (regardless of the type of transaction that it is). After the completion of our initial business combination, directors or members of our management team who remain with us may be paid consulting, management or other fees from the combined company. All of these fees will be fully disclosed to stockholders, to the extent then known, in the tender offer materials or proxy solicitation materials furnished to our stockholders in connection with a proposed business combination. It is unlikely the amount of such compensation will be known at the time, because the directors of the post-combination business will be responsible for determining executive officer and director compensation. Any compensation to be paid to our executive officers will be determined by a compensation committee consisting solely of independent directors. We do not intend to take any action to ensure that members of our management team maintain their positions with us after the consummation of our initial business combination, although it is possible that some or all of our executive officers and directors may negotiate employment or consulting arrangements to remain with us after the initial business combination. The existence or terms of any such employment or consulting arrangements to retain their positions with us may influence our management’s motivation in identifying or selecting a target business but we do not believe that the ability of our management to remain with us after the consummation of our initial business combination will be a determining factor in our decision to proceed with any potential business combination. We are not party to any agreements with our executive officers and directors that provide for benefits upon termination of employment. Committees of the Board of Directors Upon the effective date of the registration statement of which this prospectus forms part, our board of directors will have three standing committees: an audit committee, a compensation committee and a nominating and corporate governance committee. Each committee will operate under a charter that has been approved by our board of directors and will have the composition and responsibilities described below. The charter of each committee will be available on our website. Our audit committee, compensation committee and nominating and corporate governance committee will be composed solely of independent directors. 118 Table of Contents Audit Committee Upon the effectiveness of the registration statement of which this prospectus forms a part, we will establish an audit committee of the board of directors. The members of our audit committee will be Lynn Perkins, Robin Meister and Michael Tomczyk. Lynn Perkins will serve as chair of the audit committee. Under the Nasdaq listing standards and applicable SEC rules, we are required to have at least three members on the audit committee. The rules of the Nasdaq and Rule 10A-3 of the Exchange Act require that the audit committee of a listed company be comprised solely of independent directors. Each of Lynn Perkins, Robin Meister and Michael Tomczyk qualifies as an independent director under applicable rules. Each member of the audit committee is financially literate and our board of directors has determined that Lynn Perkins, Robin Meister and Michael Tomczyk qualifies as an “audit committee financial expert” as defined in applicable SEC rules. We will adopt an audit committee charter, which will detail the principal functions of the audit committee, including: • the appointment, compensation, retention, replacement, and oversight of the work of the independent registered accounting firm and any other independent registered public accounting firm engaged by us; • pre-approving all audit and non-audit services to be provided by the independent registered accounting firm or any other registered public accounting firm engaged by us, and establishing pre-approval policies and procedures; • reviewing and discussing with the independent registered accounting firm all relationships the auditors have with us in order to evaluate their continued independence; • setting clear hiring policies for employees or former employees of the independent registered accounting firm; • setting clear policies for audit partner rotation in compliance with applicable laws and regulations; • obtaining and reviewing a report, at least annually, from the independent registered accounting firm describing (i) the independent registered accounting firm’s internal quality-control procedures and (ii) any material issues raised by the most recent internal quality-control review, or peer review, of the audit firm, or by any inquiry or investigation by governmental or professional authorities, within, the preceding five years respecting one or more independent audits carried out by the firm and any steps taken to deal with such issues; • reviewing and approving any related party transaction required to be disclosed pursuant to Item 404 of Regulation S-K promulgated by the SEC prior to us entering into such transaction; and • reviewing with management, the independent registered accounting firm, and our legal advisors, as appropriate, any legal, regulatory or compliance matters, including any correspondence with regulators or government agencies and any employee complaints or published reports that raise material issues regarding our financial statements or accounting policies and any significant changes in accounting standards or rules promulgated by the Financial Accounting Standards Board, the SEC or other regulatory authorities. Compensation Committee Upon the effectiveness of the registration statement of which this prospectus forms a part, we will establish a compensation committee of the board of directors consisting of three members. The members of our 119 Table of Contents Compensation Committee will be Robin Meister, Lynn Perkins and Michael Tomczyk. Robin Meister will serve as chair of the compensation committee. Under the Nasdaq listing standards and applicable SEC rules, we are required to have at least two members on th

SEC Filings

Form Type Form Description Filing Date Document Link
10-Q FORM 10-Q 2022-05-09 https://www.sec.gov/Archives/edgar/data/1852407/000119312522144981/d342588d10q.htm
10-K FORM 10-K 2022-03-28 https://www.sec.gov/Archives/edgar/data/1852407/000119312522086875/d291997d10k.htm
SC 13G/A FORM SC 13G/A 2022-02-14 https://www.sec.gov/Archives/edgar/data/1852407/000106299322003983/formsc13ga.htm
SC 13G SCHEDULE 13G 2022-02-14 https://www.sec.gov/Archives/edgar/data/1852407/000119312522039450/d295864dsc13g.htm
SC 13G 2022-02-07 https://www.sec.gov/Archives/edgar/data/1852407/000135755022000060/fexdu13g31dec2021.htm
SC 13G/A 2022-02-03 https://www.sec.gov/Archives/edgar/data/1852407/000184671822000054/FintechEcosystem13g13122.txt
8-K 8-K 2022-01-18 https://www.sec.gov/Archives/edgar/data/1852407/000119312522011071/d295581d8k.htm
SC 13G/A SCHEDULE 13G/A 2022-01-11 https://www.sec.gov/Archives/edgar/data/1852407/000137647422000011/lf_sc13gz.htm
10-Q FORM 10-Q 2021-12-02 https://www.sec.gov/Archives/edgar/data/1852407/000119312521346370/d246000d10q.htm
SC 13G FORM SC 13G 2021-11-18 https://www.sec.gov/Archives/edgar/data/1852407/000106299321011137/formsc13g.htm
8-K 8-K 2021-11-05 https://www.sec.gov/Archives/edgar/data/1852407/000119312521321755/d239733d8k.htm
SC 13G SCHEDULE 13G 2021-10-26 https://www.sec.gov/Archives/edgar/data/1852407/000137647421000370/lf_sc13g.htm
SC 13G SC 13G 2021-10-26 https://www.sec.gov/Archives/edgar/data/1852407/000110465921129896/tm2131084d1_sc13g.htm
3 FORM 3 SUBMISSION 2021-10-22 https://www.sec.gov/Archives/edgar/data/1852407/000089924321041354/xslF345X02/doc3.xml
8-K 8-K 2021-10-22 https://www.sec.gov/Archives/edgar/data/1852407/000119312521305523/d231231d8k.htm
EFFECT 2021-10-21 https://www.sec.gov/Archives/edgar/data/1852407/999999999521003972/xslEFFECTX01/primary_doc.xml
424B4 424B4 2021-10-21 https://www.sec.gov/Archives/edgar/data/1852407/000119312521303712/d127847d424b4.htm
POS AM POS AM 2021-10-21 https://www.sec.gov/Archives/edgar/data/1852407/000119312521303278/d141996dposam.htm
8-K 8-K 2021-10-20 https://www.sec.gov/Archives/edgar/data/1852407/000119312521302584/d197240d8k.htm
EFFECT 2021-10-18 https://www.sec.gov/Archives/edgar/data/1852407/999999999521003917/xslEFFECTX01/primary_doc.xml
3 FORM 3 SUBMISSION 2021-10-18 https://www.sec.gov/Archives/edgar/data/1852407/000089924321040550/xslF345X02/doc3.xml
3 FORM 3 SUBMISSION 2021-10-18 https://www.sec.gov/Archives/edgar/data/1852407/000089924321040549/xslF345X02/doc3.xml
3 FORM 3 SUBMISSION 2021-10-18 https://www.sec.gov/Archives/edgar/data/1852407/000089924321040546/xslF345X02/doc3.xml
3 FORM 3 SUBMISSION 2021-10-18 https://www.sec.gov/Archives/edgar/data/1852407/000089924321040545/xslF345X02/doc3.xml
3 FORM 3 SUBMISSION 2021-10-18 https://www.sec.gov/Archives/edgar/data/1852407/000089924321040542/xslF345X02/doc3.xml
3 FORM 3 SUBMISSION 2021-10-18 https://www.sec.gov/Archives/edgar/data/1852407/000089924321040541/xslF345X02/doc3.xml
CERT 2021-10-18 https://www.sec.gov/Archives/edgar/data/1852407/000135445721001172/8-ACert_FEXD.pdf
CORRESP 2021-10-14 https://www.sec.gov/Archives/edgar/data/1852407/000119312521298672/filename1.htm
CORRESP 2021-10-14 https://www.sec.gov/Archives/edgar/data/1852407/000119312521298669/filename1.htm
8-A12B 8-A12B 2021-10-14 https://www.sec.gov/Archives/edgar/data/1852407/000119312521298535/d203391d8a12b.htm
S-1/A S-1/A 2021-09-24 https://www.sec.gov/Archives/edgar/data/1852407/000119312521282459/d127847ds1a.htm
S-1/A S-1/A 2021-08-18 https://www.sec.gov/Archives/edgar/data/1852407/000119312521249485/d127847ds1a.htm
CORRESP 2021-08-17 https://www.sec.gov/Archives/edgar/data/1852407/000119312521249492/filename1.htm
UPLOAD 2021-06-04 https://www.sec.gov/Archives/edgar/data/1852407/000000000021006927/filename1.pdf
S-1 FORM S-1 2021-05-07 https://www.sec.gov/Archives/edgar/data/1852407/000119312521154938/d127847ds1.htm