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.
(a)
Market Information
Our units, public shares and
public warrants are each traded on Nasdaq under the symbols “CFFEU,” “CFFE” and “CFFEW,” respectively.
Our units commenced public trading on March 12, 2021, and our public shares and public warrants commenced separate public trading on May
3, 2021.
(b)
Holders
On March 29, 2023, there was one (1) holder of record of our units,
three (3) holders of record of our Class A common stock, three (3) holders of record of our Class B common stock and two (2) holders of
record of our warrants.
(c)
Dividends
We have not paid any cash
dividends on our common stock 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 of directors at such time. In addition, our board of directors
is not currently contemplating and does not anticipate declaring any stock 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.
(d)
Securities Authorized for Issuance Under Equity Compensation Plans.
None.
(e)
Recent Sales of Unregistered Securities
None.
(f)
Use of Proceeds from the Initial Public Offering
For a description of the use
of proceeds generated in our initial public offering and the private placement, see Part II, Item 2 of our Quarterly Report on Form 10-Q
for the quarterly period ended March 31, 2021, as filed with the SEC on May 17, 2021.
On March 16, 2023, we instructed
Continental to liquidate the investments held in the trust account and instead to hold the funds in the trust account in an
interest-bearing demand deposit account at Citibank, N.A., with Continental continuing to act as trustee, until the earlier of the consummation
of our initial business combination or our liquidation. As a result, following the liquidation of investments in the trust account,
the remaining proceeds from the initial public offering and private placement are no longer invested in U.S. government debt securities
or money market funds that invest in U.S. government debt securities.
(g)
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
None.
Item 6. [Reserved.]
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.