Item 5. Market for Registrant’s Common Equity
ITEM
5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Our
equity securities trade on the NYSE. Each of our units consists of one Class A ordinary share and one-half of one redeemable warrant
and, commencing on November 19, 2021, trades on the NYSE under the symbol “IFIN.U.” The Class A ordinary shares and warrants
underlying our units began trading separately on the NYSE under the symbols “IFIN” and “IFIN.WS,” respectively,
on January 10, 2022.
Holders
of Record
As
of March 6, 2023 there were one holder of record of our units, one holder of record of our Class A ordinary shares, two holders
of record of our warrants and five holders of record of our Class B ordinary. Such numbers do not include beneficial owners
holding our securities through nominee names.
Dividends
We
have not paid any cash dividends on our ordinary shares to date and do not intend to pay cash dividends prior to the completion of our
initial business combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital
requirements and general financial condition subsequent to completion of our initial business combination. The payment of any cash dividends
subsequent to our initial business combination will be within the discretion of our Board at such time. In addition, our Board is not
currently contemplating and does not anticipate declaring any share dividends in the foreseeable future. Further, if we incur any indebtedness
in connection with our initial business combination, our ability to declare dividends may be limited by restrictive covenants we may
agree to in connection therewith.
Use
of Proceeds from our Initial Public Offering
On
November 23, 2021, the Company consummated the IPO of 17,391,200 units at $10.00 per Unit and the sale of 7,032,580 Private Warrants
at a price of $1.00 per Private Warrant in a private placement to the Sponsor that closed simultaneously with the closing of the IPO.
The Company has listed the Units on the NYSE. On November 23, 2021, the underwriters exercised
their over-allotment option in full, according to which the Company consummated the sale of an additional 2,608,680 Units, at $10.00
per Unit, and the sale of an additional 764,262 Private Warrants, at $1.00 per Private Warrant. Following the closing of the over-allotment
option, the Company generated total gross proceeds of $207,795,642 from the IPO and the Private Placement, of which the Company raised
$199,998,800 in the IPO, $7,796,842 in the Private Placement and of which $202,998,782 was placed in the Company’s Trust Account
with Continental Stock Transfer & Company as trustee, established for the benefit of the Company’s public shareholders.
Transaction costs amounted to $9,351,106 consisting of $2,499,985 in cash of underwriting fees
and $6,851,121 of other offering costs. The amount of funds available for a business combination is approximately $94.59 million after payment of $5,999,964 of deferred underwriting
fees and payment of an aggregate redemption amount of approximately $109.31 million as a result of the approval of the Extension Proposal.
For
a description of the use of the proceeds generated in our Initial Public Offering, see Part II, Item 7 of this Annual Report.
ITEM
6. [RESERVED]
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