ENFA - ENFA drops almost 12% after investors pan upcoming Buzzfeed SPAC deal

December, 03 2021 03:26 PM 890 5th Avenue Partners Inc.

SPAC 890 5th Avenue (NASDAQ:ENFA) fell almost 12% as investors appeared to show their dislike for the upcoming Buzzfeed SPAC deal. About 94% of the $287.5 million the SPAC raised has been withdrawn by investors, according to a WSJ report yesterday. That will leave BuzzFeed with about $16M from its public listing. ENFA holders yesterday approved the combination with BuzzFeed at a vote and the deal is set to close today. BuzzFeed will begin trading on the Nasdaq on Monday under the symbol "BZFD." The final deal included gross proceeds of at least $150M from fully committed convertible notes and $16.2M held in trust (assuming no redemption elections are withdrawn), according to a statement. BuzzFeed in late June confirmed a deal to go public via SPAC at an implied $1.5B valuation.

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ENFA drops almost 12% after investors pan upcoming Buzzfeed SPAC deal

Company Name:	890 5th Avenue Partners Inc.
Stock Symbol:	ENFA
Market:	NASDAQ

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