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WinVest Acquisition Corp., a special purpose acquisition company with a market capitalization of $39.27 million and current trading price of $11.32, has announced the adjournment of its special meeting of stockholders originally convened on May 30, 2025. According to InvestingPro analysis, the company’s stock is currently trading slightly below its Fair Value. The meeting was adjourned without conducting any business to allow for further proxy solicitation. The adjourned meeting is scheduled to reconvene on June 27, 2025, at 11:00 a.m. Eastern Time, with no change in the location, record date, purpose, or proposals to be acted upon.
The special meeting is part of the process for the proposed initial business combination between WinVest Acquisition Corp., WinVest (BVI) Ltd., Xtribe P.L.C., and Xtribe (BVI) Ltd. The merger aims to create a combined entity that will continue Xtribe’s operations. InvestingPro data reveals concerning metrics, including a weak financial health score of 1.37 and a current ratio of 0.03, indicating potential liquidity challenges that investors should consider. The proposals related to the business combination are detailed in the proxy statement/prospectus included in the company’s Form F-4 filed with the Securities and Exchange Commission (SEC) on March 31, 2025.
Stockholders are encouraged to read the proxy statement/prospectus available on the SEC’s website and on the voting platform. They can cast their votes before or during the reconvened special meeting. Those who have already voted and do not wish to change their vote need not take any action.
The adjournment also extends the deadline for stockholders to submit their shares for redemption in connection with the business combination to June 25, 2025. Stockholders may withdraw previously submitted redemption requests until the reconvened meeting.
This news is based on a press release statement and includes forward-looking statements regarding the expected timing and likelihood of completing the business combination. The actual results may vary due to various risks and uncertainties. InvestingPro highlights additional risk factors, including high price volatility and negative earnings per share of -$0.62. Investors are advised to read all relevant documents filed with the SEC as they contain important information about the business combination. For comprehensive analysis and additional insights, InvestingPro offers 4 more key tips about WinVest’s performance and outlook.
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