CF Acquisition Corp. VII Announces That its Trust Account Will Not Be Decreased Due to Excise Tax

NEW YORK, June 7, 2023 /PRNewswire/ -- CF Acquisition Corp. VII (NASDAQ:CFFS) (the "Company") today announced that, to mitigate the current uncertainty surrounding the implementation of the Inflation Reduction Act of 2022, in the event that the extension (the "Extension") of the time period the Company has to complete an initial business combination (the "Business Combination") is implemented, as described in the proxy statement filed by the Company on May 19, 2023 (the "Proxy Statement"), in connection with its special meeting of stockholders to be held on June 14, 2023 (the "Meeting"), CFAC Holdings VII, LLC (the "Sponsor"), the sponsor of the Company, or a designee, will indemnify the Company for any reduction in the amount in the trust account as a result of any excise tax liabilities to the extent of such reduction that would otherwise be paid to any public stockholder exercising its rights with respect to any future redemption opportunities that are provided prior to or in connection with a Business Combination or in respect of a liquidation of the Company.