Wed Nov 06 16:44:11 UTC 2024: ## Finnovate Acquisition Corp. Extends Deadline for Business Combination, Offers Shareholder Incentive

**Boston, MA – November 1, 2024** – Finnovate Acquisition Corp. (Nasdaq: FNVT), a special purpose acquisition company (SPAC), announced today that it has postponed its shareholder meeting to November 6th to vote on an extension of its deadline to complete an initial business combination. The original deadline was November 8th, 2024, but the company is seeking to extend it to May 8th, 2025.

To incentivize shareholders to vote in favor of the extension, Finnovate Sponsor, L.P. has agreed to contribute an additional $0.05 per share for each month the extension remains active, starting from November 8th, 2024. This contribution will be deposited into a trust account and is conditional upon the shareholder vote. If the extension is not approved, the contribution will not be made.

This added incentive could bring the redemption amount to approximately $11.91 per share, compared to the current $11.61 per share, potentially attracting more shareholders to support the extension.

The shareholder meeting will now take place on November 6th at 10:00 a.m. Eastern time via a live webcast at https://www.cstproxy.com/finnovateacquisition/egm2024. The deadline for shareholders to submit their shares for redemption has also been extended to 5:00 p.m. Eastern time on Monday, November 4th, 2024.

Finnovate intends to continue soliciting proxies from shareholders in the days leading up to the meeting. Only holders of the company’s Class A ordinary shares as of October 2nd, 2024, the record date for the meeting, are eligible to vote.

This decision comes as the company continues its search for a suitable target to acquire, aiming to expand its reach and capital base.

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