Item 8.01 Other Events.
CF Finance Acquisition Corp. (the "Company") previously announced that it will
hold a special meeting of stockholders on Monday, June 15, 2020 at 4:00 P.M.
Eastern (the "Special Meeting") to vote to further extend the deadline to
consummate an initial business combination from June 17, 2020 to September 17,
2020 (the "Extension").
On June 5, 2020, the Company issued a press release announcing that if the
Company's stockholders approve the Extension at the Special Meeting, CF Finance
Holdings, LLC, the Company's sponsor ("Sponsor"), will contribute to the
Company's trust account $0.09 for each share of Class A common stock (each, a
"Public Share") issued in the Company's initial public offering ("IPO") that is
not redeemed in connection with the stockholder vote for the Extension. The
Contribution will not accrue interest and will be repayable to the Sponsor or
its designee in full upon the consummation of an initial business combination.
The Contribution will increase the pro rata portion of the funds available in
the Company's trust account from approximately $10.33 per Public Share to
approximately $10.42 per Public Share. The Contribution is conditioned upon the
implementation of the Extension. If the Extension is implemented, the Sponsor
will make the Contribution by June 17, 2020.
The press release is attached as Exhibit 99.1 hereto and is incorporated into
this Item 8.01 by reference.
Item 9.01 Financial Statements and Exhibits
Exhibit
Number Description
99.1 Press Release dated June 5, 2020
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