Fintech Ecosystem Development Corp. Announces Extension Of Deadline To Complete Business Combination To April 21, 2023

Fintech Ecosystem Development Corp. (NASDAQ:FEXD) ("FEXD") announced today that its board of directors has elected to extend the date by which FEXD has to consummate a business combination from January 21, 2023 to April 21, 2023 (the "Extension"), as permitted under FEXD's Amended and Restated Certificate of Incorporation.

In connection with the Extension, FEXD'S sponsor, Revofast LLC, has notified FEXD that it intends to deposit an aggregate of $1,150,000 (representing $0.10 per public share) into FEXD's trust account on or before January 21, 2023.

The Extension will provide FEXD with additional time to complete its proposed business combination with fintech companies Rana Financial Inc. ("Rana") and Mobitech International LLC ("Afinoz").