Financial Strategies Acquisition Corp. Announces Extension of Termination Date and Additional Contribution to Trust Account to Extend Termination Date

DALLAS, Dec. 13, 2022 /PRNewswire/ -- Financial Strategies Acquisition Corp. (NASDAQ: FXCO, the "Company"), a special purpose acquisition company, announced today that at a special meeting of its stockholders held on December 9, 2022, the Company's stockholders voted in favor of a proposal to amend its amended and restated certificate of incorporation (as amended, the "Certificate of Incorporation") to extend the date (the "Termination Date") by which the Company must consummate an initial business combination from December 14, 2022 to January 14, 2023 (the "Charter Extension Date"), and to allow the Company, without another stockholder vote, to elect to extend the Termination Date on a monthly basis for up to 11 times by an additional one month each time after the Charter Extension Date, by resolution of the Company's board of directors, if requested by one or both of FSC Sponsor LLC and Celtic Sponsor VII LLC, the Company's co-sponsors (the "Co-Sponsors"), subject to the deposit by one or both of the Co-Sponsors or one or more of their respective affiliates, members or third-party designees of the lesser of (a) $50,000 and (b) $0.05 for each share of the Company's Class A common stock not redeemed in connection with the special meeting per monthly extension into the Company's trust account (the "Trust Account"). At the special meeting, the Company's stockholders also voted in favor of a proposal to effect a corresponding amendment to the Investment Management Trust Agreement, by and among the Company and Continental Stock Transfer & Trust Co., to extend the Termination Date.