SEC Comment Letter 0000000000-23-002296 to Fintech Ecosystem Development Corp. (CIK 0001852407)
Fintech Ecosystem Development Corp. (CIK 0001852407)
Date: March 9, 2023 · CIK: 0001852407 · Accession: 0000000000-23-002296
AI Filing Summary & Sentiment
File numbers found in text: 001-40914
Letter
United States securities and exchange commission logo March 8, 2023 Saiful Khandaker Chief Executive Officer Fintech Ecosystem Development Corp. 100 Springhouse Drive Suite 204 Collegeville, PA 19426 Re:Fintech Ecosystem Development Corp. Preliminary Proxy Statement filed on Schedule 14A Filed March 1, 2023 File No. 001-40914 Dear Saiful Khandaker: We have reviewed your filing and have the following comment. In our comment, we may ask you to provide us with information so we may better understand your disclosure. Please respond to the comment within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to the comment, we may have additional comments. Preliminary Proxy Statement filed March 1, 2023 General 1.With a view toward disclosure, please tell us whether your sponsor is, is controlled by, has any members who are, or has substantial ties with, a non-U.S. person. Also revise your filing to include risk factor disclosure that addresses how this fact could impact your ability to complete your initial business combination. For instance, discuss the risk to investors that you may not be able to complete an initial business combination with a target company should the transaction be subject to review by a U.S. government entity, such as the Committee on Foreign Investment in the United States (CFIUS), or ultimately prohibited. Disclose that as a result, the pool of potential targets with which you could complete an initial business combination may be limited. Further, disclose that the time necessary for government review of the transaction or a decision to prohibit the transaction could prevent you from completing an initial business combination and require you to liquidate. Disclose the consequences of liquidation to investors, such as the losses of the investment opportunity in a target company, any price appreciation in the combined
FirstName LastNameSaiful Khandaker Comapany NameFintech Ecosystem Development Corp. March 8, 2023 Page 2 FirstName LastName Saiful Khandaker Fintech Ecosystem Development Corp. March 8, 2023 Page 2 company, and the warrants, which would expire worthless. We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Joseph Ambrogi at 202-551-4821 or David Link at 202-551-3356 if you have questions regarding the comment. Sincerely, Division of Corporation Finance Office of Real Estate & Construction cc: Alexander H. Rahn, Esq.
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United States securities and exchange commission logo
March 8, 2023
Saiful Khandaker
Chief Executive Officer
Fintech Ecosystem Development Corp.
100 Springhouse Drive Suite 204
Collegeville, PA 19426
Re:Fintech Ecosystem Development Corp.
Preliminary Proxy Statement filed on Schedule 14A
Filed March 1, 2023
File No. 001-40914
Dear Saiful Khandaker:
We have reviewed your filing and have the following comment. In our comment, we
may ask you to provide us with information so we may better understand your disclosure.
Please respond to the comment within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to the comment, we may have additional comments.
Preliminary Proxy Statement filed March 1, 2023
General
1.With a view toward disclosure, please tell us whether your sponsor is, is controlled by, has
any members who are, or has substantial ties with, a non-U.S. person. Also revise your
filing to include risk factor disclosure that addresses how this fact could impact your
ability to complete your initial business combination. For instance, discuss the risk to
investors that you may not be able to complete an initial business combination with a
target company should the transaction be subject to review by a U.S. government entity,
such as the Committee on Foreign Investment in the United States (CFIUS), or ultimately
prohibited. Disclose that as a result, the pool of potential targets with which you could
complete an initial business combination may be limited. Further, disclose that the time
necessary for government review of the transaction or a decision to prohibit the
transaction could prevent you from completing an initial business combination and require
you to liquidate. Disclose the consequences of liquidation to investors, such as the losses
of the investment opportunity in a target company, any price appreciation in the combined
FirstName LastNameSaiful Khandaker
Comapany NameFintech Ecosystem Development Corp.
March 8, 2023 Page 2
FirstName LastName
Saiful Khandaker
Fintech Ecosystem Development Corp.
March 8, 2023
Page 2
company, and the warrants, which would expire worthless.
We remind you that the company and its management are responsible for the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action or absence of
action by the staff.
You may contact Joseph Ambrogi at 202-551-4821 or David Link at 202-551-3356 if you
have questions regarding the comment.
Sincerely,
Division of Corporation Finance
Office of Real Estate & Construction
cc: Alexander H. Rahn, Esq.